|AIG DOMESTIC BROKERAGE GROUP ANNOUNCES FORMATION OF AIG CONSTRUCTION SOLUTIONS; SINGLE UNIT TO SERVE AS CONSOLIDATED POINT OF CONTACT FOR ALL DOMESTIC CONSTRUCTION BUSINESS|
NEW YORK, Mar 14, 2005 -- The Domestic Brokerage Group of the AIG Companies today announced the formation of AIG Construction Solutions(SM), a consolidated practice that will serve as the central point of contact for domestic brokers and agents placing construction business with the member companies of AIG.
"The formation of AIG Construction Solutions brings together the AIG Companies' unrivaled breadth of products, capacity, financial strength, industry expertise and risk management services for the benefit of the construction sector," said Kristian P. Moor, AIG Executive Vice President, Domestic General Insurance. "By creating a central practice that presents all of AIG's construction-related products, has underwriting authority to bind coverages for our clients and features a dedicated claims management team, we can service new and existing accounts in a more timely and efficient manner."
The new practice will offer the full AIG product set currently available for construction risks, including Primary Casualty, Excess Umbrella Liability, Professional Design Liability, Environmental Liability, Workers' Compensation, Accident & Health, Defense Base Act, Property, and Surety coverages.* Furthermore, AIG Consultants, Inc. can provide customized preventative construction risk management services. Dedicated product integration teams have been established throughout the country to facilitate broker communication, product delivery and client/broker services.
Daniel Conway of AIG Construction Risk Management will serve as Practice Leader for the new organization. He will report to Louis Iglesias, Senior Executive, AIG Construction Solutions. Mr. Conway has more than 20 years of experience servicing the insurance needs of the construction sector.
"AIG Construction Solutions can work with construction companies ranging from small businesses to members of the ENR 400(TM)," said Mr. Iglesias. "Under Dan Conway's day-to-day direction, we have a very focused approach to the way we work with our construction clients. AIG Construction Solutions provides these clients with a full range of tailored coverages and risk management services that meet industry-specific needs. By utilizing the full spectrum of AIG's resources, clients can eliminate many of the gaps and inconsistencies associated with using multiple carriers."
For more information on AIG Construction Solutions, please call David Schwartz, Vice President of Marketing, AIG Construction Solutions, at 212-458-2584 or e-mail David.Schwartz@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 and ArcaEx, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
*AIG Companies refers to the domestic property and casualty insurance subsidiaries of American International Group, Inc. (AIG). Issuance of coverage 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. Non-insurance services may be provided through independent third parties. Coverage may not be available in all jurisdictions.
American International Group, Inc.