American International Group (AIG) has rolled out a new line of multinational commercial property products and services, for mid-sized businesses confronting global risk exposures.
The new line of products and services includes expanded coverage, loss prevention engineering, and risk management solutions,
AIG’s Property Performance Series offers complete commercial property solutions for mid-sized businesses in Australia, Canada, Europe, South Africa, and the US. The company is considering expanding the policy offering to businesses in other countries later in 2014.
An easy-to-navigate, all-risk property damage and business interruption policy, the Property Performance Policy offers a company cover for all operating locations and property exposures.
AIG’s single, concise policy form can include environmental clean-up, equipment breakdown, crisis management, and cyber coverage, with additional property coverage extensions.
AIG global property president George Stratts said: "Middle market companies are shifting their focus from deep cost cuts to strategic opportunities for growth, including global expansion."
"With the Property Performance Series, AIG is meeting the needs of our middle market customers wherever they go."
The policy also gives optimized business income coverage, which offers clients the flexibility of choosing settlement on either a gross profits or gross earnings basis after a loss, whichever results in a greater loss calculation.
AIG Global Property product strategy head Carol Barton commented: "Our offering is designed to help clients maintain their business continuity by providing outstanding coverage and contract certainty, as well as services modeled on those provided to the largest multinational organizations."
As part of the new Property Performance Series, AIG will unveil many industry-focused policy forms customized to offer coverage enhancements for clients in different industry segments, including healthcare, higher education, manufacturing, real estate, and retail.