American International Group, Inc. (AIG) has announced that the American International Companies have enhanced their Directors, Officers and Corporate Liability insurance coverage to include Business Travel Accident Insurance and Travel Assistance Services.(a)
“This endorsement furthers our commitment to provide timely and vital coverage that responds to the risks facing directors and officers, while enabling companies to give their directors and corporate officers extensive travel accident insurance, for travel on company business,” John Keogh, AIG Vice President, Domestic General Insurance and President, National Union Fire Insurance Company of Pittsburgh, said “This coverage is especially needed for board members who may not have adequate business travel insurance as part of their employee benefit package.”
The Business Travel Accident endorsement pays benefits in the event of an accident when an insured director or corporate officer is traveling to or from a company business meeting, or when they are at the business meeting itself. Additionally, the endorsement can be expanded to cover accidents that can occur at any time, during business or pleasure travel.
The coverage provides benefits of up to $250,000 per person, up to an aggregate limit of $2.5 million. Benefits, which are provided in addition to any workers’ compensation or other insurance benefits, are paid directly to the insured director or officer, or their designated beneficiary.
Business Travel Accident Insurance also provides insured directors and corporate officers access to AIG Assist Travel Assistance Services, offering comprehensive emergency, legal, medical and pre-trip or en-route assistance services, which can include assistance with lost baggage/passports, insurance coordination, medical and legal referrals, evacuation and repatriation services, emergency cash and emergency messaging.
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