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NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA. LAUNCHES NEW MANAGEMENT AND PROFESSIONAL LIABILITY INSURANCE PACKAGE
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PrivateRisk ProtectorSM Offers Private Companies Multiple Coverage Options in One Consolidated Program

NEW YORK--Jan. 19, 2005-- National Union Fire Insurance Company of Pittsburgh, Pa.(R), a member company of American International Group, Inc. (AIG), today announced the launch of PrivateRisk ProtectorSM, a new management and professional liability portfolio of coverages designed to address the broad spectrum of exposures that threaten the financial health of private companies.

"In today's business climate, there is a lot at risk for private business owners, including their personal assets," said John Keogh, President and Chief Executive Officer, National Union. "The PrivateRisk Protector program can be tailored to meet the specific needs of private companies, giving them the appropriate amount of protection and flexibility to withstand damaging claims."

With PrivateRisk Protector, businesses may choose one or more of six coverages and combine them into a single efficient program based on their unique risk profiles:

  • Directors, Officers and Private Company Liability Insurance - Protects the assets of both the private company and its owners in the event of lawsuits from a variety of constituents, including employees, shareholders, customers, government bodies, and others;
  • Employment Practices Liability Insurance - Addresses the wide array of claims commonly brought against private companies by employees, including lawsuits alleging wrongful termination, harassment and retaliation;
  • Pension Trust Liability Insurance - Fiduciary liability coverage for lawsuits stemming from such claims as imprudent plan investment or misrepresentation;
  • Fidelity and Crime Coverage - Responds to a wide range of fidelity losses arising from employee dishonesty, including many types of losses that are often not covered by policies generally available in the market, such as losses resulting from former employees during the first 30 days following termination;
  • Employed Lawyers Professional Liability Insurance - Coverage for claims of negligence, errors and omissions on the part of in-house attorneys in private companies, while performing legal services such as mergers and acquisitions or contract negotiations; and
  • Internet Media Liability Insurance - Coverage for claims arising out of the gathering and communication of information via the Internet, including defamation, invasion of privacy rights and infringement of intellectual property rights.

PrivateRisk Protector insureds automatically receive EPL Pak(R) Premier, a comprehensive package of products and services that address proper workplace training and practices. EPL Pak Premier combines extensive Employment Practices Liability coverage with skilled legal defense options, experienced claims management capabilities, and access to prudent loss prevention tools and strategies.

For more information on PrivateRisk Protector, please contact your local National Union representative or managementliability@aig.com.

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.

* 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. Coverage may not be available in all states. Non-insurance products may be provided through independent third parties.

CONTACT:
American International Group, Inc.
Andrew Silver
212-770-3141