|AIG CONSULTANTS OFFERS ENVIRONMENTAL INCIDENT RESPONSE AND MANAGEMENT SERVICES|
NEW YORK, March 15, 1999 - AIG Consultants, Inc., a member company of American International Group, Inc. (AIG), has announced that its subsidiary AIG Environmental Management, Inc. (AIGEM) has introduced the Pollution Incident and Environmental Response (PIER) Program, which assists policyholders of AIG member companies with their overall response to, and management of, truck and trailer/ auto environmental incidents.
The PIER Program is offered to policyholders on an elective basis to help manage environmental incidents by providing services in support of a policyholder's first response actions. The program is supported by a network of independent emergency response contractors and turnkey environmental consulting firms in all 50 states and parts of Canada.
The PIER Program is designed to help clients provide a safer response environment, negotiate appropriate regulatory cleanup goals, and minimize the overall cost of the incident. In addition to cost containment, the involvement of AIGEM in the overall response helps maintain client communication with other involved AIG member companies throughout the life of the incident response.
An insured triggers the program by calling AIG Claim Services, Inc.'s (AIGCS) Early Notice toll-free telephone number to provide notification of the loss. After coverage is determined, AIGEM contacts the client to discuss key issues such as the nature of the pollution event, the client's response actions, and the performance of the client's contractors on the incident. AIGEM will then make recommendations regarding future action. If it is determined that adequate response services and performance are not being provided by the client or client's response contractor, AIGEM will recommend corrective action or provide alternative solutions.
Additionally, AIGEM will review invoices associated with the environmental cleanup for accuracy and consistency with the project scope and industry standards. AIGEM will also work with the client to reach regulatory case closure in a timely and cost-effective manner.
"Environmental incidents present potentially large financial exposures if not managed properly, and businesses may discover that they are under-prepared for these environmental exposures if they have limited in-house procedures or expertise," said John Carey, President, AIG Consultants. "The PIER Program can provide policyholders creative, low-cost approaches to managing complex and often costly environmental cleanup procedures."
For more information on the PIER Program, contact Greg Barats of AIGEM at 415/836-2660 or http://access.aig.com.
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.