American International Group (AIG) has introduced Global Casualty Single Solution (GCSS), a new offering that covers cross-border casualty risks for US-based multinational companies (MNCs).
The GCSS, which has been designed for middle market businesses with up to $700m in annual revenue, is suitable for manufacturing, wholesale, and financial institutions, as well as business, legal and engineering service companies.
The new product enables brokers to access on behalf of customers AIG’s US domestic, foreign and excess casualty products and services through one underwriting contact, leveraging one online submission, and a single global claims coordinator.
GCSS offers firm companies with more consistency across policy forms to enable them in mitigating the risk of casualty insurance gaps, whether based on geography, severity, or coverage type.
AIG US Casualty president Russell Johnston said that brokers serving small and medium-sized businesses want to access their multinational insurance partner in a simple way.
"We’ve updated our new multinational casualty process with brokers and customers in mind to create this new product," Johnston added.
AIG operates in over 130 nations and offers property-casualty insurance products and services to commercial, institutional, and individual customers.
Image: AIG Building on 175 Water Street, New York City. Photo courtesy of AIG.