AIG Environmental, a division of the property/casualty insurance subsidiaries of American International Group Inc. (AIG), has announced the enhancement of its Environmental and General Liability Exposures (EAGLE) Program. The expanded product portfolio features new coverages to provide commercial insureds with AIG Environmental’s broadest environmental risk management program.
In addition to General Liability, EAGLE now features coverage for Bodily Injury and Property Damage arising from “Sudden and Accidental Pollution Events” as standard components of the program. Comprehensive Site Pollution, Product(s) Pollution and Product(s) Recall coverages remain available on an optional basis. AIG member companies can provide related Workers’ Compensation and Commercial Property coverages for purchasers of the EAGLE program.(a) Limits up to $10 million are available. For a complete list of the coverages available in the expanded EAGLE program, visit the products page of www.aigenvironmental.com.
“Many commercial enterprises that readily purchase general liability insurance have shied away from environmental coverage because of the perceived high cost, a tedious application process and the view that perhaps their exposure to an environmental risk was not significant enough to warrant coverage; but perception has changed,” said Joseph Boren, chairman and CEO of AIG Environmental. “Manufacturers, distributors and even industries that traditionally have not been pollution-generating sectors have come to realize the potential impact an environmental liability can have on their business. The new EAGLE program was designed with the insurance needs of a broad array of sectors in mind, and with the ‘one carrier, one underwriter, one policy’ structure, we are offering a streamlined method to secure comprehensive combined casualty and environmental coverage.”
Reportedly responding to the environmental insurance needs of commercial enterprises nation-wide, AIG Environmental has revised the program to include a significant increase in the number of target industry classes.
Target sectors include wholesale distributors, processors and manufacturers of products ranging from adhesives/caulking, asphalt, cement, fertilizer, food additives and plastic/rubber goods to interior building materials, paint, storage tanks, industrial cleaners and cosmetics.
The new EAGLE policy provides insureds with a single, cost-effective insurance program that reportedly helps eliminate the added costs and potential for errors and omissions that may result from having multiple policies in place from multiple insurers and underwriters.
The “one carrier, one underwriter, one policy” philosophy also facilitates the closing of potential coverage gaps which might exist for companies that do not purchase a more-comprehensive pollution coverage product.
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