AIG to protect anti-terrorism products, technologies.American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. has introduced a new set of policies designed to cover companies that develop and sell anti-terrorism products and technologies under the Support Anti-Terrorism By Fostering Effective Technologies Act of 2002. The act is designed to encourage innovation by limiting companies' liability should their products fail in a terrorism attack. To be eligible, companies must be certified by the Department of Homeland Security Noun 1. Department of Homeland Security - the federal department that administers all matters relating to homeland security Homeland Security executive department - a federal department in the executive branch of the government of the United States . Under AIG's Safety Act Homeland Protector, coverage is available with limits of up to $25 million and is activated only when a terrorist act occurs. The SAFETY Act, which was signed into law as part of the Homeland Security Act The Homeland Security Act (HSA) of 2002, Pub. L. No. 107-296, 116 Stat. 2135 (Nov. 25, 2002), introduced in the aftermath of the September 11, 2001 attacks, created the Department of Homeland Security in the largest government reorganization in 50 years, since the Department of of 2002, is intended to limit specific companies' overall liability. The act could apply to businesses ranging in size from one or two employees to billion-dollar defense contractors Noun 1. defense contractor - a contractor concerned with the development and manufacture of systems of defense armed forces, armed services, military, military machine, war machine - the military forces of a nation; "their military is the largest in the region"; . |
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