AIG launches mid market global coverage
American International Group (AIG) has launched a new line of multinational commercial property products and services for mid-sized business with global risk exposures.
AIG’s property performance series provides comprehensive commercial property solutions for mid-sized businesses in Australia, Canada, Europe, South Africa and the United States. The company plans to continue to expand the policy offering to businesses in other countries later in 2014.
The property performance policy is an all-risk property damage and business interruption policy that will offer a company cover for all operating locations and property exposures. It can include environmental clean-up, equipment breakdown, crisis management, and cyber, with additional property coverage extensions available.
The policy also offers optimised business income coverage, which will allow clients to choose settlement on either a gross profits or gross earnings basis after a loss, whichever results in a greater loss calculation.
“Middle market companies are shifting their focus from deep cost cuts to strategic opportunities for growth, including global expansion,” said George Stratts, president, global property, AIG. “With the property performance series, AIG is meeting the needs of our middle market customers wherever they go.”
Carol Barton, head of product strategy, global property, AIG, said: “The complexities facing middle market companies operating globally do not have to extend to insurance. Our offering is designed to help clients maintain their business continuity by providing outstanding coverage and contract certainty, as well as services modeled on those provided to the largest multinational organisations.”
