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AIG launches multinational commercial property insurance line

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AIG launches multinational commercial property insurance line

American International Group Inc. has introduced a new line of multinational commercial property insurance products and services for middle-market companies expanding overseas.

AIG's Property Performance Series suite of coverage, loss prevention engineering and risk management solutions is available to midsize businesses based in Australia, Canada, Europe, South Africa and the United States that have international exposures, the insurer said in a statement.

AIG plans to expand this offering to businesses in other countries later this year, including several industry-focused policy forms tailored to different such as health care, higher education, manufacturing, real estate and retail, the company said.

AIG's property performance insurance policy provides all-risk property and business interruption coverage for all operating locations and property exposures. Additional coverage extensions, including environmental cleanup, equipment breakdown, crisis management and cyber, are also available. The policy also offers optimized business income coverage to give clients the flexibility of choosing settlement after a loss on either a gross profits or gross earnings basis, whichever results in a greater loss calculation, the AIG statement said.