AIG Excess Casualty, a division of American Home Assurance Company, a member company of American International Group Inc., introduced xsInResponse, a new product that provides excess liability coverage for risks previously covered by an insurance carrier that is now insolvent. Available as an endorsement to AIG Excess Casualty’s Commercial Umbrella Liability policy, Umbrella Prime, xsInResponse allows policyholders to reduce insolvency-related vulnerabilities in excess liability insurance programs dating back up to 15 years.
xsInResponse coverage is unique claims-made coverage that responds to incurred but not reported (IBNR) claims. UmbrellaPrime, available with up to $50 million in limits, also includes crisis management funds, access to professional expertise and immediate, 24/7 access to specialists who can help companies manage a crisis, even before a claim is filed.
“Over 200 insurers and reinsurers have become insolvent in the past decade, leaving many companies unable to collect on large liability claims,” said Chris Maleno, president of AIG Excess Casualty. “With xsInResponse, risk managers can secure stable capacity to strategically address coverage holes left by insolvencies – and assure stakeholders, board members, and others that their portfolio of excess liability coverage can respond when needed.”
For more information on xsInResponse, contact Richard Tallo, AIG Excess Casualty, at (212) 458-6104 or firstname.lastname@example.org.
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