The Domestic Brokerage Group of the AIG Companies announced the formation of AIG Real Estate Solutions, a consolidated unit dedicated to serving the insurance and risk management needs of the real estate sector, including Real Estate Investment Trusts (REITs), fiduciaries and trusts, property management firms, real estate developers and commercial property owners.
“Real estate operations face a broad spectrum of exposures that are unique to their industry,” said Kristian P. Moor, AIG executive vice president, domestic general insurance. “As such, these organizations need insurance products and specialized account support that meet their specific risk management needs. AIG Real Estate Solutions was created with these issues in mind to provide the real estate sector with access to the full range of AIG’s insurance offerings and eliminate many of the gaps in coverage that typically result when dealing with multiple carriers.”
Dedicated product integration teams have been established throughout the country to facilitate broker communication and provide seamless access to the real estate experts and insurance products provided by the AIG Companies, including:
General Property Insurance/Property Terrorism Insurance;
Primary General Liability, Lead Umbrella and Excess Follow Form Insurance;
Professional Liability Insurance;
Management Liability Insurance;
Employment Practices Liability Insurance; and
Environmental Liability Insurance.
To further support real estate clients, additional AIG member companies can offer a broad range of real estate services and capabilities, including real estate investment, development and management; commercial mortgage lending; active management of commercial mortgage-backed securities and unsecured REIT debt portfolios; affordable housing sponsorship and residential mortgage guaranty insurance.
John Willett of Lexington Insurance Company will serve as practice leader for the new organization. Willett has nearly 20 years of experience in both the property/casualty insurance carrier and insurance brokerage areas. He will report to John Keogh, senior executive, AIG Real Estate Solutions and president and chief executive officer, National Union Fire Insurance Company of Pittsburgh, Pa.
“AIG Real Estate Solutions is designed to serve as a single access point for agents and brokers who service the real estate market,” said Keogh. “By creating a unit that serves as a gateway to the coverages and claims management capabilities of the AIG Domestic Brokerage Group, we will be able to streamline the way we interact with real estate clients and help them build a comprehensive tower of insurance that covers their complete risk profile.”
For more information about AIG Real Estate Solutions, please contact John Willett, practice leader, AIG Real Estate Solutions, at (617) 330-8406 or e-mail AIGRealEstateSolutions@aig.com.
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