|AIG GLOBAL TRADE AND POLITICAL RISK INSURANCE COMPANY INTRODUCES POLITICAL RISK INSURANCE FOR MIDDLE MARKET COMPANIES|
|NEW YORK, Jan 10, 2002 -- AIG Global Trade and Political Risk
Insurance Company, a member company of American International Group, Inc. (AIG),
has introduced a new political risk insurance coverage for small and mid-sized
AIG Global's Political Risk Insurance for Middle Market Companies protects small to mid-size businesses with cross border businesses and contracts against government interference.
"Smaller businesses expanding their operations into foreign markets can suffer significant financial hardship when unexpected political events adversely affect their cross border exposures," said John Salinger, President, AIG Global Trade and Political Risk Insurance Company. "The availability of political risk insurance, as well as the global reach and experience of AIG Global, provides middle market businesses with a valuable asset previously not at their disposal."
AIG Global's Political Risk Insurance for Middle Market Companies covers losses from confiscation, expropriation, nationalization and selective discrimination for permanent investments and mobile assets, and embargo and license cancellation for cross-border contracts. The policy offers coverage in more than 100 countries, covering all regions in the world.
For more information on Political Risk for Middle Market Companies, contact Ray Ruga at 212/770-7357 or visit the website at www.http://aigglobal.aig.com.
AIG is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial, personal and life insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. 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.
CONTACT: Ned Burke, 212/770-3141