|AIG AVIATION OFFERS NEW COVERAGE FOR THE CIVIL AIR PATROL|
NEW YORK--May 5, 2003--AIG Aviation, Inc., a member company of American International Group, Inc. (AIG), today announced that it is now endorsing Civil Air Patrol (CAP) liability insurance coverage onto the non-owned aircraft damage liability insurance form.
"The Civil Air Patrol plays a vital role in our nation's safety and security," said Jim Anderson, vice president of AIG Aviation, Inc. "However, with recent changes to Civil Air Patrol regulations, CAP pilots are facing possible liability exposures in the course of performing their official duties. Understanding the risk exposures under the new regulations, we are pleased to provide this much needed coverage for CAP pilots."
Civil Air Patrol liability coverage is optional coverage that provides protection for physical damage to a non-owned aircraft that a CAP pilot may be responsible for during official CAP missions.
The CAP coverage is now integrated into eLAD, AIG Aviation's online quoting and policy issuance system for general aviation aircraft, allowing producers to provide a quote to their insureds in minutes.
Operators should contact their broker for details about CAP coverage. It is available though any independent insurance broker appointed by AIG Aviation. Owners and pilots looking for an AIG Aviation appointed broker should contact AIG Aviation at 404-249-1800, or by email at email@example.com.
AIG is the world's leading international insurance and financial services organization, with operations in approximately 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In the United States, AIG companies are the largest underwriters of commercial and industrial insurance, and AIG American General is a top-ranked life insurer. AIG's global businesses also include financial services, retirement savings and asset management. AIG's financial services businesses include aircraft leasing, financial products, trading and market making. AIG's growing global consumer finance business is led in the United States by American General Finance. AIG also has one of the largest U.S. retirement savings businesses through AIG SunAmerica and AIG VALIC, and is a leader in asset management for the individual and institutional markets, with specialized investment management capabilities in equities, fixed income, alternative investments and real estate. AIG'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 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. Non-insurance products may be provided through independent third parties.
CONTACT: AIG Corporate Communications Andrew Silver, 212/770-3141 SOURCE: AIG Aviation, Inc.