|AIG COMPANIES LAUNCH BUSPLUS, A NEW UMBRELLA LIABILITY INSURANCE PACKAGE FOR SCHOOL BUS OPERATORS|
NEW YORK--April 28, 2004--The AIG Companies today introduced BusPlus(SM), a new umbrella liability insurance package that offers excess auto liability insurance coverage, sexual misconduct liability coverage and terrorism protection under one policy for schools, municipalities and private bus companies responsible for the transportation of children.
"School bus operators now face serious liabilities that are beyond the scope of standard excess liability policies," said Kevin Kelley, Chairman and Chief Executive Officer of Lexington Insurance Company, a member company of American International Group, Inc. "BusPlus offers insurance against the risks of sexual abuse and terrorism while providing the security blanket of excess auto liability coverage that is necessary for companies responsible for transporting children."
The BusPlus umbrella liability insurance policy includes: -- Excess Auto Liability Coverage providing excess bodily injury and property damage liability coverage for losses exceeding the primary policy limits of the named insured. -- Sexual Misconduct Liability Coverage expressly provided for the insured entity, as well as the bus driver. An accused bus driver is afforded protection until he or she confesses or is proven guilty of abuse allegations. -- Automatic inclusion of Terrorism Insurance for claims arising from acts of terrorism that impact school buses and their passengers.
BusPlus umbrella liability insurance is available with limits up to $25 million. For more information, please contact Ben Beauvais, Product Line Manager at 617/330-8412, or BusPlus@aig.com.
American International Group, Inc. (AIG) is the world's leading international insurance and financial services organization, with operations in more than 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 services 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 services 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.
CONTACT: American International Group, Inc. Andrew Silver, 212-770-3141 SOURCE: American International Group, Inc.