|AIG SMALL BUSINESS INTRODUCES WORLDRISK TRAVELPAK; NEW COVERAGE OFFERING TO MEET INTERNATIONAL RISK MANAGEMENT NEEDS OF SMALL BUSINESSES|
NEW YORK--July 26, 2004--AIG Small Business(SM) (AIGSB), a unit of the property and casualty insurance subsidiaries of American International Group, Inc. (AIG), today launched WorldRisk TravelPak(SM), a comprehensive package of international coverages designed for U.S.-based commercial enterprises with employees traveling on business abroad.
WorldRisk TravelPak provides a range of coverages for overseas travel hazards, including commercial general liability, non-owned and hired auto liability, employers' responsibility, excess repatriation expenses, travel accident and sickness, foreign business travel property, and kidnap, ransom and extortion.* The package, which covers ten or less short-term overseas trips per year and up to ten employees per trip, is geared towards manufacturing concerns, financial institutions, retailers/wholesalers and professional services companies.
"More and more small to mid-size organizations are sending employees overseas to build the company's business," said Vincent Tizzio, President, AIG Small Business. "Yet many of the 'people, property and liability' exposures that companies face abroad are not addressed in traditional domestic insurance policies. WorldRisk TravelPak offers small and middle market clients a simple, affordable solution; it enables them to enhance the scope of their standard policy by providing a comprehensive package of complementary international coverages."
AIG Small Business' WorldRisk TravelPak offering is one of several products provided by AIG WorldRisk, a portfolio of foreign commercial general insurance products offered through AIG WorldSource, a division of the AIG Companies.
For more information on WorldRisk TravelPak, please contact your AIG Small Business Regional Sales Manager or AIG Broker Services at 877-867-3783.
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.
* The above description 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 members of American International Group, Inc. Non-insurance products may be provided through independent third parties.
CONTACT: American International Group, Inc. Andrew Silver, 212-770-3141 SOURCE: American International Group, Inc.