American International Group, Inc. (AIG) has significantly raised available global commercial property limits to $2.5 billion per occurrence.
According to the company, the move responds to the growing demand for capacity and services by clients managing more complex global risks and increasing property values. It also reflects AIG’s greater appetite for property risk based on its ongoing expansion of risk engineering and data analytics capabilities.
The new limits build on AIG’s capacity of $1.5 billion per occurrence available globally to clients since 2012.
Over the last four years, AIG has built out its risk engineering capabilities, hiring more than 500 engineers to provide clients with risk mitigation services. Most recently, AIG invested in Clemson University to establish a risk engineering and systems analytics center to deepen the skills sets and capabilities of its risk engineers and to enhance its efforts to transform data analytics into actionable insight for the company and its clients.