|AIG PRIVATE CLIENT GROUP LAUNCHES THE FIRST-EVER HURRICANE PROTECTION UNIT FOR SELECT INSUREDS|
NEW YORK--July 17, 2006--AIG Private Client Group, a division of the personal lines property and casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced the creation and deployment of its Hurricane Protection Unit: a suite of complimentary loss mitigation and response services for insureds who reside in select coastal locations.
AIG Private Client Group claims specialists historically have responded to natural disasters with innovative solutions. The Hurricane Protection Unit was devised to bring an equally sophisticated level of protection to policyholders well before storm season. The new risk mitigation service proactively addresses common causes of storm-related damage by focusing on three distinct stages:
1. In advance of hurricane season -- advance planning is required to ensure adequate protection of exceptional homes, fine art, collector vehicles and other valued belongings. An AIG Private Client Group hurricane specialist will meet with individual insureds throughout the year to identify potential areas of exposure, and to map out a personal mitigation plan and execution timeline. If structural enhancements are needed, such as the installation of protective shutter systems, the hurricane specialist can recommend an approved vendor.
2. At the time of a hurricane "watch" -- each customized mitigation plan will include timelines with specific action steps to execute when a storm is approaching, such as wrapping belongings, moving furnishings away from doors and windows, and removing outdoor items that could become airborne.
3. After the hurricane passes -- Hurricane Protection Unit professionals will be stationed in nearby areas to expedite the delivery of on-the-ground disaster response support. Mobile units will fan out throughout the impact areas immediately following a storm to assess damage and deliver post-event services:
"Repair resources are often hard to access immediately following a hurricane, but taking prompt action can be the difference between minor damage and a catastrophic loss," said Stephen Poux, Vice President of Loss Prevention for AIG Private Client Group. "By bringing these resources directly to customers' homes, we can proactively handle claims, avoid additional damage and hopefully provide peace of mind."
During the initial roll-out, the Hurricane Protection Unit is available to AIG Private Client Group insureds who reside in one of three Florida counties: Collier, Miami-Dade and Palm Beach.
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 the 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, automobile, private collections, excess flood, yacht, aviation, and kidnap and ransom. 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.
American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.