AIG has launched a new line of multinational commercial property products and services, including expanded coverage, loss prevention engineering, and risk management solutions for mid-sized businesses confronting global risk exposures.

Designed for mid-sized businesses in Australia, Canada, Europe, South Africa and the United States, the Property Performance Policy is an all-risk property damage and business interruption policy that can offer cover for all operating locations and property exposures. A single policy form can include environmental clean-up, equipment breakdown, crisis management, and cyber cover with additional property coverage extensions available.

“Middle market companies are shifting their focus from deep cost cuts to strategic opportunities for growth, including global expansion,” says George Stratts, president, global property, AIG. “With the Property Performance Series, AIG is meeting the needs of our middle market customers wherever they go.”

The policy also offers Optimised Business Income coverage, providing the settlement on either a gross profits or gross earnings basis after a loss.

“The complexities facing middle market companies operating globally do not have to extend to insurance,” says Carol Barton, head of product strategy, global property, AIG. “Our offering is designed to help clients maintain their business continuity by providing outstanding coverage and contract certainty, as well as services modeled on those provided to the largest multinational organisations.”

As part of the new Property Performance Series, AIG also is scheduled to roll out several industry-focused policy forms tailored to provide coverage enhancements for clients in different industry segments, including healthcare, higher education, manufacturing, real estate and retail.

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