Insurance company AIG has introduced AIG Passport for Fidelity, a service created for multinational companies to facilitate the purchase of locally admitted fidelity insurance to cover their international operations and subsidiaries against loss related to white-collar crime and financial losses resulting from employee theft.
The company said that AIG Passport for Fidelity is available for US and foreign-based companies, with separate policies covering commercial crime and financial institutions’ fidelity exposures. Both policies cover a wide variety of white-collar crime including loss of money, securities or tangible property resulting from employee theft, the company said. AIG Passport for Fidelity is available for both new and renewed businesses and will initially be available in 77 countries.
John Doyle, president and CEO of AIG executive liability, said: Multinationals are looking for a streamlined way to purchase locally admitted fidelity coverage for their operations around the globe. With operations in more than 130 countries and jurisdictions, the AIG companies are uniquely positioned to address worldwide fidelity risks through the AIG Passport platform.