|AIG AVIATION OFFERS INSURANCE AND PREMIUM BENEFITS TO POLICYHOLDERS UTILIZING PAASS LOSS CONTROL PROGRAMS|
NEW YORK, February 23, 1999 - AIG Aviation, Inc., a member company of American International Group, Inc. (AIG), has announced that policyholders participating in the Professional Aerial Applicator Support System (PAASS) education, training and safety programs may be eligible for special insurance benefits and premium discounts.
AIG Aviation policyholders that participate in PAASS loss control programs and order their aerial applicator insurance coverage within 12 months will receive special insurance benefits and premium credits. A 5 percent credit is available for the first year of the aircraft hull and liability and airport premiums. Premiums in subsequent years will be adjusted by the experience of all the PAASS operators purchasing AIG Aviation policies. In addition to premium discounts, all PAASS operators insured with AIG Aviation will receive a Preferred Insured Endorsement to their insurance policy, which can eliminate deductibles.
PAASS is administered by the National Agricultural Aviation Research and Education Foundation and was established to directly support the development of aviation professionals with programs and technological services. PAASS education, training and safety programs are designed to reduce accidents and spray drift incidents, while limiting liability in the aerial application industry.
"We believe the PAASS programs are making a difference in loss control for our insureds and we would like to see the momentum continue," said Mark Brown, Vice President, AIG Aviation. "By offering these benefits, we hope to provide policyholders with added incentive to mitigate losses and to increase our support and recognition of the loss control programs developed by PAASS."
The AIG Aviation insurance program for PAASS participants is available through any independent insurance agent or broker appointed with AIG Aviation. Operators seeking a referral for an AIG Aviation insurance agent are encouraged to contact AIG Aviation by phone 602-922-7117, or facsimile 602-483-1004.
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. Insurance is underwritten by member companies of American International Group, Inc.