AIG offers new D&O coverage. (Property/Casualty: Marketplace).American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. Inc. is marketing coverage to non-employee directors and officers that offers protection for their personal assets if corporate misdeeds prevent them from being covered by traditional D&O liability insurance.
"With escalating securities litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute.
When a person begins a civil lawsuit, the person enters into a process called litigation. , heightened scrutiny of directors' actions in the wake of high profile corporate wrongdoing wrong·do·er
One who does wrong, especially morally or ethically.
wrongdo , and new regulations that increase board members' liability exposures, corporations require effective insurance protection to attract and retain successful, highly skilled individuals as corporate directors," said John Keogh, AIG AIG addressee indicator group (US DoD)
AIG American International Group, Inc
AiG Answers in Genesis (religious group in defense of Scripture)
AIG Artificial Intelligence Group
AIG Australian Industry Group vice president, domestic general insurance, and president, National Union Fire Insurance Company of Pittsburgh.
Limits of liability for the policy, IDL (1) (Interface Definition Language) A language used to describe the interface to a routine or function. For example, objects in the CORBA distributed object environment are defined by an IDL, which describes the services performed by the object and how the data Premier, are available up to $25 million, and are not shared with inside directors and officers or the corporate entity IDL Premier provides coverage if the primary and excess D&O policies do not respond as the result of cancellation, the breach of a nonseverable warranty or when a claim is excluded. IDL Premier is available only if the primary D&O policy is underwritten by an AIG member company. To obtain coverage, the corporation is expected to meet a number of corporate governance Corporate Governance
The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. guidelines, including maintaining a board of directors with at least half the membership noncompany officers. Also, audit, compensation and nominating committees must be comprised solely of nonemployee directors.
AIG also has introduced ExecSecure, a nonrescindable, excess D&O coverage for nonindemnifiable claims against all directors and officers, that protects all directors and officers. Limits of liability are available up to $25 million. ExecSecure is available only if the primary D&O policy is underwritten by an AIG member company.