The American International Group, Inc. (AIG) insurers have launched a new line of multinational commercial property products and services, including expanded coverage, loss prevention engineering, and risk management solutions, for mid-sized businesses confronting global risk exposures.
AIG’s Property Performance Series provides commercial property products for mid-sized businesses in Australia, Canada, Europe, South Africa, and the United States. The company plans 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 can offer a company cover for all operating locations and property exposures. AIG’s single policy form can include environmental clean-up, equipment breakdown, crisis management, and cyber coverage, with additional property coverage extensions available.
The policy also offers optimized business income coverage, which provides clients the option of choosing settlement on either a gross profits or gross earnings basis after a loss, whichever results in a greater loss calculation.
As part of the new Property Performance Series, AIG also is scheduled to roll out several industry-focused policy forms tailored to provide coverage enhancements for clients in different industry segments, including healthcare, higher education, manufacturing, real estate, and retail.
AIG’s middle market offering, combined with its large limits, U.S. excess and surplus lines coverage, and small to medium-sized enterprise capabilities, is available for brokers looking to access broad coverage and capacity for clients of every type.