|HILL & KNOWLTON JOINS NATIONAL UNION’S CRISISFUND PROGRAM|
NEW YORK, April 8, 1998, – National Union Fire Insurance Company of Pittsburgh, Pa., a member company of American International Group, Inc. (AIG), has added the public relations firm of Hill & Knowlton as a pre-approved firm under its CrisisFundSM crisis communications insurance coverages.*|
In September 1996, National Union introduced CrisisFund, an endorsement to its Directors, Officers and Corporate Liability insurance coverage. CrisisFund covers fees for crisis communications services related to the management of a covered crisis event. CrisisFund coverage is triggered when the insured's management determines that a covered crisis event is reasonably likely to have an immediate and material negative impact on the insured's stock price.
To ensure policyholders secure the best crisis management counsel, National Union has pre-approved a panel of public relations firms that an insured may select to provide services in connection with a covered event. The pre-approved firms announced earlier are: Abernathy MacGregor Frank; Burson-Marsteller; Edelman Public Relations Worldwide; Kekst and Company; Robinson Lerer & Montgomery; Sard Verbinnen & Company; and Sitrick and Company. Additionally, Kroll Associates, the leading international crisis management and investigative consulting firm, has been pre-approved. An insured of National Union is not required to use one of the pre-approved firms for crisis management services under CrisisFund, but must secure the approval of National Union prior to retaining another public relations firm for these purposes.
“Hill & Knowlton has a team of 30 crisis and litigation communications experts in its 10 offices throughout the U.S. and a demonstrated track record in assisting client companies in the toughest situations. We welcome H&K to our pre-approved panel of crisis management public relations firms,” said Kristian P. Moor, President, National Union.
National Union has recently introduced CrisisFund for Not-for-Profit OrganizationsSM and Employment CrisisFundSM, which responds to employment practices crises. CrisisFund for Not-for-Profit Organizations, which can be tailored for health care and educational institutions, is triggered when the organization decides that a covered event is likely to have a significant negative impact on its financial health or reputation. Employment CrisisFund, an endorsement to National Union's Employment Practices Liability Insurance (EPLI) coverage, is triggered at the discretion of the insured's General Counsel when an employment crisis incident is discovered, alleged, or covered in the media.
For more information about CrisisFund, call (212) 458-1716 or http://access.aig.com.
Hill Knowlton Joins National Union's Crisisfund Program April 8, 1998 Page two
AIG is the leading U.S.-based international insurance organization and among the largest underwriters of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services businesses. American International Group, Inc.'s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
* The above described coverage may not be available in all states, and the above description thereof is neither a complete description nor a complete list of all terms, conditions and exclusions. Note that certain terms used in the above are defined in the policy. Please see the policy for a complete description of its scope and limitations of coverage. Issuance of coverage is subject to underwriting.