AIG is once again the choice of large buyers of insurance, says Business Insurance in its annual Buyers Choice Awards. At a ceremony in Chicago in November, AIG was presented with two awards:
- Commercial Liability Insurer Expertise for Large Buyers
- Commercial Liability Insurer Overall for Large Buyers
In a Business Insurance article entitled “AIG's innovation is driven by focus on client needs,” Russell Johnston, Casualty executive for AIG Property Casualty in the U.S. and Canada, says, “If you focus on the customer and solving problems, it's through their needs that you find what you need to innovate.” Whether AIG is “insuring cattle in India or satellites in space,” he says, “we're in a position to respond to virtually anything.”
Formerly known as the Readers Choice Awards, the awards were redesigned in 2011 to be more rigorous and transparent in identifying service qualities that buyers value most and the companies that best exemplify those qualities. Before 2011, AIG and its businesses won Readers Choice awards in several areas (see “Business Insurance ‘Choice’ Awards”).
AIG is also among Global Finance magazine’s 2012 World’s Best Global Risk Management Providers, based on criteria including innovation/creativity; capacity, pricing, and coverage terms; financial security/stability; reach; and service delivery. This year, AIG won more Global Financeawards than any other carrier.
In global categories, AIG was selected as:
- Best Global Property Insurer
- Best Global Environmental Liability Insurer
- Best Global Employment Practices Liability Insurer
- Best Global Cyber Risk Insurer
In regional categories, which included specific coverages on a regional basis, AIG was chosen as:
- Best Overall Insurer – U.S./Canada
- Best Overall Insurer – Asia/Pacific
- Best D&O Insurer – Asia/Pacific
- Best Crime/Fidelity Insurer – Latin America/Caribbean
- Best Crime/Fidelity Insurer – Central/Eastern Europe
The awards were based on survey responses from nearly 1,400 Global Finance readers around the world, and input from a panel of 14 prominent risk management and financial executives at major companies headquartered in each region.