New Market: D&O Business Travel

July 22, 2002

American International Group has announced enhanced Directors, Officers and Corporate Liability insurance coverage that includes Business Travel Accident Insurance and Travel Assistance Services.

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. 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. At this time coverage might not be available everywhere and certain restrictions may apply.

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. The carrier is AIG.

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