ÌìÃÀÍøÕ¾´«Ã½´«Ã½

The ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Companies have introduced ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Passport, an enhanced service process for corporate clients purchasing locally admitted directors and officers liability insurance to cover their international operations and subsidiaries.

ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Passport provides customers with the opportunity to request from an ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Companies’ underwriter a global D&O program letter that details terms and conditions of the base D&O policy and one or more locally admitted policies, written in the local language and compliant with specific local laws and regulations. ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Passport is available for international operations and subsidiaries in more than 75 countries and jurisdictions although some countries and jurisdictions only non-admitted policies may be available.

“Globalization of executive liability risks and the desire for rigorous compliance on the part of multinational companies is fueling demand for locally admitted D&O policies,” said Kristian P. Moor, ÌìÃÀÍøÕ¾´«Ã½´«Ã½ executive vice president, Domestic General Insurance. “ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Passport, plus over 30 years of experience writing international D&O liability risks, has uniquely positioned us to meet that demand.”

ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Companies will underwrite and issue ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Passport policies, as well as manage claims locally. ÌìÃÀÍøÕ¾´«Ã½´«Ã½ Passport service is available at inception or renewal for existing primary directors and officers liability insurance customers.

Source: American International Group, Inc.

Topics New Markets ÌìÃÀÍøÕ¾´«Ã½´«Ã½