|AIG PRIVATE CLIENT GROUP CREATES DEPARTMENT OF LOSS PREVENTION|
NEW YORK--Oct. 26, 2004--AIG Private Client Group, a division of the property and casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced the creation of a Department of Loss Prevention to minimize high net worth policyholders' exposure to preventable losses such as water damage and fire events.
Stephen Poux, who has been with AIG Private Client Group since 2000 and has over 15 years of industry experience serving high net worth customers, has been appointed Director of Loss Prevention. Mr. Poux, in conjunction with claims and risk management colleagues, will analyze past claims, identify loss trends and develop tactics to eliminate or lessen the impact of future losses for high net worth individuals. In addition, Mr. Poux and a team of 17 in-house Risk Management Specialists will seek out and test the latest loss prevention technologies on behalf of clients nationwide.
"We take loss prevention seriously, particularly when we are insuring a high net worth client's most valuable assets," said Mr. Poux at AIG Private Client Group's recent risk management conference in Austin, TX. "As such, the Department of Loss Prevention will provide a value-added service with resources dedicated to researching the latest loss-prevention techniques on behalf of our brokers and their most important clients."
"We are committed to reducing the cost of risk for our clients," added Ross Buchmueller, President, AIG Private Client Group. "A proper risk management program must consider more than coverage alone. By carefully studying the full spectrum of our clients' experiences and needs, we are better equipped to protect them."
AIG Private Client Group provides comprehensive insurance products and services to help meet the unique risk management needs of high net worth individuals and their families. Its innovative products are underwritten by member companies of American International Group, Inc., and are designed to enhance protection of, and minimize threats to, personal wealth and safety. AIG Private Client Group's portfolio of insurance products includes excess liability, homeowners, excess flood, automobile, private collections, kidnap and ransom, aviation and yacht coverage. In addition to its products, AIG Private Client Group offers an extensive range of risk management services that includes loss-prevention expertise for owners of fine homes, management of art collections and personal security consultation.
For more information, contact your local broker or visit the AIG Private Client Group Web site at www.aigpcg.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 retirement services, financial 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.