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ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Excess Casualty, a division of the property and casualty subsidiaries of American International Group Inc. (ÌìÃÀÍøÕ¾´«Ã½´«Ã½), has introduced ÌìÃÀÍøÕ¾´«Ã½´«Ã½ ExcessPrime, a $25 million commercial liability program that provides insureds with additional excess limits.

ÌìÃÀÍøÕ¾´«Ã½´«Ã½ ExcessPrime is designed to sit in excess of $50 million lead commercial umbrella insurance. To qualify for ÌìÃÀÍøÕ¾´«Ã½´«Ã½ ExcessPrime, an ÌìÃÀÍøÕ¾´«Ã½´«Ã½ member company must currently underwrite the existing lead commercial umbrella layer. The program offers Occurrence and Claims Made forms to provide substantial flexibility to risk managers who need a variety of coverage options.

“There is clearly a lack of qualified, viable capacity in the excess market, leaving insurance buyers with few options to secure excess limits backed by a fiscally-sound carrier,” said David Perez, president, ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Excess Casualty. “ÌìÃÀÍøÕ¾´«Ã½´«Ã½ ExcessPrime fills this void, and gives risk managers who are concerned about insurer financial security and claims-paying ability a new choice to consider as they build a strong tower of insurance coverage.”

The ÌìÃÀÍøÕ¾´«Ã½´«Ã½ ExcessPrime initiative features a streamlined quoting process for current ÌìÃÀÍøÕ¾´«Ã½´«Ã½ clients. When an insured submits an application for lead umbrella coverage, the ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Excess Casualty underwriting team will automatically provide a quote for ÌìÃÀÍøÕ¾´«Ã½´«Ã½ ExcessPrime, eliminating the need to submit multiple applications for various coverages.

Insureds will also reportedly benefit from the ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Companies’ extensive underwriting expertise on both lead and excess lines, with the standards typically seen within the lead layers now applied to excess coverage requests.

To learn more about ÌìÃÀÍøÕ¾´«Ã½´«Ã½ ExcessPrime, contact Melena Ortega, ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Excess Casualty, at Melena.Ortega@aig.com.

Topics Excess Surplus ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Casualty