Printer Friendly

AIG UNIT LAUNCHES FIRST ENVIRONMENTAL IMPAIRMENT LIABILITY INSURANCE IN JAPAN

 AIG UNIT LAUNCHES FIRST ENVIRONMENTAL
 IMPAIRMENT LIABILITY INSURANCE IN JAPAN
 NEW YORK, June 1 /PRNewswire/ -- American International Underwriters (AIU), a unit of American International Group, Inc. (NYSE: AIG), today announced plans to introduce Environmental Impairment Liability (EIL) insurance in Japan beginning June 1, 1992. The product, jointly developed with two Japanese insurance companies, is the first and currently the only EIL coverage available in Japan.
 The product, recently licensed by the Japanese Ministry of Finance, is designed for Japanese companies as well as multinationals doing business in Japan. It was developed for the Japanese market by AIU and Commerce & Industry Insurance Company (C&I), AIG's primary environmental insurance company in conjunction with Nippon Fire and Marine Insurance Company and Yasuda Fire and Marine.
 The coverage is similar to policies marketed in the United States but only recently sold overseas. EIL provides coverage for third party losses resulting from pollution conditions emanating from an insured site, with aggregate limits of up to $40 million available.
 Commenting on the introduction of this new product, Brian Duperreault, AIU President, said "AIG companies are the first to offer an insurance product that addresses the growing environmental concerns in Japan. With unmatched capacity and underwriting expertise, we are uniquely qualified to bring a financially sound and tested product to this broad and growing market. AIG companies pioneered underwriting pollution coverages in 1979 in the United States and remain acknowledged leaders in the field."
 AIG is the leading U.S.-based international insurance organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions and are engaged in a range of financial services businesses. American International Group, Inc.'s common stock is listed on the New York Stock Exchange as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
 -0- 6/1/92
 /CONTACT: Joe Norton of American International Group, 212-770-3144/
 (AIG) CO: American International Group Inc. ST: New York IN: INS SU: PDT


TS -- NY048 -- 5670 06/01/92 12:01 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 1, 1992
Words:350
Previous Article:SPRINT INTRODUCES 'THE MOST,' A UNIQUE CALLING PLAN THAT ELIMINATES RESIDENTIAL CALLING RESTRICTIONS
Next Article:SPINNAKER SOFTWARE SHIPS PERSONAL ACCESS VERSION 1.5:
Topics:


Related Articles
AIG'S COMMERCE AND INDUSTRY INSURANCE COMPANY ANNOUNCES INCREASED CAPACITY TO $40 MILLION ON POLLUTION LEGAL LIABILITY COVERAGE
AMERICAN INTERNATIONAL GROUP INTRODUCES INNOVATIVE 'ENVIRONMENTAL PROTECTION PROGRAM'
AMERICAN INTERNATIONAL GROUP ANNOUNCES EXPANDED ENVIRONMENTAL UNDERWRITING CAPABILITY IN THE UNITED KINGDOM
AIG TO CREATE FIRST INSURANCE COMPANY UNDERWRITING OPERATION IN LLOYD'S OF LONDON
Environmental liability in the European Union.
S&P Affirms American International Group Inc. Ratings; Outlook Stable.
AIG Environmental Markets To Midsize Contractors.
Alico Japan gets 90.7 bil. yen capital boost from U.S. parent.
Allianz, other Western insurers consider buying AIG's Japan units.
Job shifts: former AIG employees now with other insurers.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters