AIG Aviation Inc., a member company of American International Group Inc. (AIG), announced the launch of Excess Aviation War Liability coverage.
The new product, an extension of AIG Aviation’s insurance portfolio, is designed to help corporate flight departments and owners of private aircraft meet the new minimum liability requirements mandated by insurance regulators in the European Union.
AIG Aviation’s Excess Aviation War Liability coverage is structured to apply in excess of a $50 million primary aviation liability policy and complement a corporate umbrella placement to eliminate potential gaps in an insured’s available war liability coverage.
The new program, which features limits up to $300 million and will respond to covered losses on an occurrence basis, can be used to support either an AIG Aviation primary liability policy or existing primary coverages purchased through carriers outside of the member companies of AIG. Covered risks include war and terrorism acts such as aircraft confiscation, sabotage, hijacking, unlawful seizure and civil commotion.
Available internationally, AIG Aviation’s Excess Aviation War Liability coverage can be purchased through any independent broker appointed with AIG Aviation.
To send a submission, locate an appointed broker or obtain more information on AIG Aviation and the new program, contact Kyle Sparks, senior vice president, AIG Aviation Inc., at kyle.sparks@aig.com.
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