|AIG ENVIRONMENTAL STRENGTHENS ITS ENVIRONMENTAL AND GENERAL LIABILITY EXPOSURES -EAGLE- PROGRAM|
Comprehensive Primary Casualty and Pollution Program to Offer Sudden and Accidental Pollution Insurance and Other Coverage Enhancements Through One Carrier, One Underwriter and One Policy
NEW YORK--Dec. 8, 2004-- AIG Environmental(R), a division of the property-casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced the enhancement of its Environmental and General Liability Exposures (EAGLE) Program(R). The expanded product portfolio features new coverages to provide commercial insureds with AIG Environmental's broadest environmental risk management program.
In addition to General Liability, EAGLE now features coverage for Bodily Injury and Property Damage arising from "Sudden and Accidental Pollution Events" as standard components of the program. Comprehensive Site Pollution, Product(s) Pollution and Product(s) Recall coverages remain available on an optional basis. AIG member companies can provide related Workers' Compensation and Commercial Property coverages for purchasers of the EAGLE program.(a) Limits up to $10 million are available. For a complete list of the coverages available in the expanded EAGLE program, please visit the products page of www.aigenvironmental.com.
"Many commercial enterprises that readily purchase general liability insurance have shied away from environmental coverage because of the perceived high cost, a tedious application process and the view that perhaps their exposure to an environmental risk was not significant enough to warrant coverage; but perception has changed," said Joseph Boren, Chairman and CEO of AIG Environmental. "Manufacturers, distributors and even industries that traditionally have not been pollution-generating sectors have come to realize the potential impact an environmental liability can have on their business. The new EAGLE program was designed with the insurance needs of a broad array of sectors in mind, and with the 'one carrier, one underwriter, one policy' structure, we are offering a streamlined method to secure comprehensive combined casualty and environmental coverage."
Responding to the environmental insurance needs of commercial enterprises nation-wide, AIG Environmental has revised the program to include a significant increase in the number of target industry classes. Target sectors include wholesale distributors, processors and manufacturers of products ranging from adhesives/caulking, asphalt, cement, fertilizer, food additives and plastic/rubber goods to interior building materials, paint, storage tanks, industrial cleaners and cosmetics.
The new EAGLE policy provides insureds with a single, cost-effective insurance program that helps eliminate the added costs and potential for errors and omissions that may result from having multiple policies in place from multiple insurers and underwriters. The "one carrier, one underwriter, one policy" philosophy also facilitates the closing of potential coverage gaps which might exist for companies that do not purchase a more-comprehensive pollution coverage product.
For more information on the new EAGLE program, please contact Peter Gilbertson, Director of Marketing, AIG Environmental, at (212) 458-6223 / email@example.com, or visit www.aigenvironmental.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.
(a) Insurance is underwritten by member companies of American International Group, Inc., and is subject to underwriting review and approval. The description herein is a summary only. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage and exclusions. Coverage may not be available in all jurisdictions.