AIG announces the pan-European launch of its new CorporateGuard D&O policy which
responds to important shifts in current risks to Directors and Officers, as well
as evolving corporate governance demands.
"In the current regulatory environment, Directors and Officers are facing
increased political, regulatory and criminal scrutiny," says Peter McKenna, Head
of Financial Lines, AIG Europe Ltd. "What is novel here is the growing number of
investigations of individuals due to whistle-blowing and self-reporting." The
new CorporateGuard, in turn, provides earlier protection by covering such
pre-claim inquiries and individual target investigations.
"Further, D&O actions are becoming more `personal` against individual corporate
officers," asserts Mr. McKenna, "as regulators and shareholders are now looking
for specific culprits to punish." The new AIG CorporateGuard now comes to the
defence of Directors by providing enhanced reputation coverage, as well as
mitigation cover to settle potential civil actions.
As companies expand internationally, D&Os become exposed to new liabilities and
unfamiliar corporate governance regimes. The new CorporateGuard provides
Directors and Officers peace of mind by providing emergency funding to directors
in case their property is confiscated or assets frozen and paying any individual
director`s liability for unpaid corporate taxes. Localized D&O policies, as part
of the AIG Passport program, ensure that one`s D&O coverage is tailored to local
requirements and tap into AIG`s unrivalled international network.
Against a background of rising claims against D&Os, AIG will now provide unique
"any one claim" reinstatement coverage for certain sectors and jurisdictions.
This will ensure that directors and officers will benefit from AIG`s strengths
and from the experience of its claims department for every unrelated claim.
The new AIG CorporateGuard will be launched across Europe throughout February.
Please contact your local Financial Lines Department.
Notes to editors
American International Group, Inc. (AIG) is a leading international insurance
organisation serving customers in more than 130 countries and jurisdictions. AIG
companies serve commercial, institutional, and individual customers through one
of the most extensive worldwide property-casualty networks of any insurer. In
addition, AIG companies are leading providers of life insurance and retirement
services in the United States. AIG common stock is listed on the New York Stock
Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com | YouTube:
www.youtube.com/aig |Twitter: @AIG_UK | LinkedIn:
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International Group,
Inc. For additional information, please visit our website at www.aig.com.
Products and services are written or provided by subsidiaries or affiliates of
American International Group, Inc. Not all products and services are available
in every jurisdiction, and insurance coverage is governed by the actual terms &
conditions of insurance set out in the policy or in the insurance contract.
Certain products and services may be provided by independent third parties.
Insurance products may be distributed through affiliated or unaffiliated
entities. In Europe, the principal insurance provider is AIG Europe Limited.
American International Group, Inc. (AIG)
Steve Muir, 020-7954-8288
Communications Manager - UK
Copyright Business Wire 2013