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AIG launches terrorism exposure unit

Posted On: Apr. 15, 2007 12:00 AM CST

NEW YORK—American International Group Inc. has formed a new specialty unit to provide access to insurance, risk management and security products and services to help companies address terrorism exposures and risks.

The new unit, AIG Homeland Security Solutions, will offer terrorism-related and security-related products and services available through AIG member companies.

Among the products and services offered will be emergency planning and threat assessments, political risk and property terrorism insurance and crisis management services.

In addition, the company said the AIG Homeland Security Solutions portfolio was designed to be in accordance with the goals of the U.S. Department of Homeland Security's National Infrastructure Protection Plan, which emphasizes public/private collaboration in crafting a comprehensive, systematic assessment and response to risks threatening critical infrastructure and key resources.

AIG Homeland Security Solutions will be based in New York, headed by Robert Cruz, who was named the new unit's practice leader.

Mr. Cruz previously was assistant director, corporate security, at AIG, and also spent more than eight years as an officer in the U.S. Army.

In a statement, Mr. Cruz said the comprehensive approach offered by the new AIG unit would help companies with terrorism exposures "by reducing vulnerability, mitigating damage and creating critical financial protections against the entire range of attacks that occur."