|AI RISK® INTRODUCES PROPERTY COMPLETE(SM) SUITE OF INSURANCE COVERAGES FOR MID-MARKET BUSINESSES|
NEW YORK--May 14, 2007--AI Risk Specialists Insurance Inc., a wholly owned brokerage subsidiary of American International Group, Inc. (AIG), today introduced AI Risk Property Complete(SM), a suite of general property and inland marine insurance created expressly for middle-market businesses with annual insurance premiums ranging from $5,000 to $100,000.
"Property Complete makes it easy for middle-market businesses to secure a comprehensive portfolio of property coverage to protect their physical assets," said Daniel Haskell, Director of Property, AI Risk. "Coverage can be tailored to include everything from equipment breakdown coverage to motor truck cargo with employee theft coverage."
Designed for a wide variety of businesses, such as retail, wholesalers, light manufacturers, real estate, healthcare and agribusinesses, AI Risk Property Complete, underwritten by Lexington Insurance Company, is a modular policy that allows various coverages to be combined into one policy. The coverages, underwritten on a non-admitted basis for customers with limited exposure to natural catastrophes, include: general "all risk" property; contractor's equipment; scheduled property; and Lex TransportPlus(SM) motor truck cargo insurance and vehicle physical damage insurance. In addition, Property Complete can be enhanced with additional coverage for equipment breakdown; electronic data processing equipment; valuable papers; transit offsite storage locations; employee theft (with motor truck cargo coverage); towing, storage; debris removal; and temporary transportation retail expenses.
Limits up to $10 million are readily available for general property. Property Complete coverages can be quoted and bound online via AI Risk ProgramConnect(R) (www.programconnect.com). Higher limits are available subject to referral to Lexington's underwriters.
For more information, visit www.airisk.com. Brokers can contact their local middle-market program manager to register to use AI Risk ProgramConnect.
AI Risk is a licensed broker that provides specialty property/casualty and personal lines insurance underwritten by Lexington Insurance Company and other AIG Companies. AI Risk is one of the nation's leading underwriters of program business.
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.