AIG has introduced its new policy for pollution legal liability, AIG Passport, a service for US- or Canada-based multinational companies to facilitate purchasing locally admitted PLL insurance to cover international operations and subsidiaries.
Pollution legal liability (PLL) policies provide liability coverage for clean-up costs, or third-party claims for bodily injury and property damage arising from losses due to on- or off-site pollution conditions from an owned or operated property.
PLL coverage also addresses pollution conditions resulting from transporting wastes or products to sites not owned by the insured.
AIG Passport for PLL is available to address environmental risks in one or more foreign jurisdictions. Foreign PLL policies written through AIG Passport are issued by the locally licensed AIG company, in compliance with local laws and regulations.
Claims are handled by local AIG claims examiners who are supported by a home country claims management team. AIG Passport for PLL is available for new and renewal business.
John Doyle, executive vice president of the AIG property casualty group and president of AIG commercial insurance group, said: AIG Passport for PLL is one more example that demonstrates the AIG Companies’ ability to deliver a broad portfolio of products to help multinational corporations mitigate risks.