Financial Lines Insurance

Accountants Professional Liability

- Description
Protects accounting firms and its partners, directors and employees from claims arising out of activities as an accountant.

- Customer Profile
Small, medium and large accounting firms.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
Over 20 years of writing accounting firms worldwide. Worldwide coverage and full prior acts are available. Extensive knowledge of local customs, markets and laws with a worldwide network of underwriting and claims offices.

Commercial Crime Bond

- Description
This coverage provides protection from loss due to:
• Dishonest or Fraudulent acts by employees
• Forgery or Alteration
• Robbery or burglary on premises or of a messenger
• Loss of money and securities inside and outside the premises
• Counterfeit currency
• Computer Fraud
• Credit Card Forgery 

-  Policy Elements 
• One Year Policy
• Claims-made basis
• Limits of Liability up to $35 million

- Customer Profile 
• Manufacturers
• Retailers
• Utilities
• Telecommunications
• Service Companies
• Chemicals/Pharmaceuticals
• Electronics
For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage 
• Loss Control Surveys
• International Network of Claims Experts
• Tailor made policies to comply with Local Laws.
• Locally admitted policies

Commercial Directors and Officers Insurance

- Description
A director's or officer's exposure to litigation has never been greater than in today's social and public policy environment. Mergers and acquisitions, de-leveraging and corporate restructuring have put a price tag on each decision made by corporate executives.
Claims of securities fraud and mismanagement have been made, both in the United States and abroad, in response to little more than press releases announcing declines in earnings, reserves for future events or products that do not perform in the marketplace as anticipated. Drops in stock price have led to automatic lawsuits with little or no information to support allegations of actual wrongful conduct. Claims by employees, as well as other third parties, such as creditors and regulators, are also increasing in today's litigious environment.

The Commercial Directors and Officers Insurance policy provides coverage for claims brought against directors and officers of a company for actual or alleged breach of duty, neglect, misstatements, errors or omissions. Coverage includes advancement of defense costs granted prior to final disposition of a claim for individuals when the corporation cannot provide such costs. Reimbursement for indemnification of directors and officers for any judgments, settlements and defense costs associated with covered claims when the company has indemnified the insured for loss.

- Customer Profile
Directors and officers of public and private companies of all sizes engaged in various business areas, including: Manufacturing, Utilities, Services, Retail, Wholesale, Chemicals, Agriculture, Pharmaceuticals, Engineering, Real Estate, and Transportation. AIU is considered the most innovative D&O market and will consider unique risks for coverage.
For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
AIU can provide U.S. $25 million in capacity. In the United States, an AIG subsidiary, National Union Fire Insurance Company of Pittsburgh, Pa., is the nation's leading provider of this type of coverage. AIG's international companies all have access to National Union's underwriting, claims and defense experience which are utilized to custom make coverage designed to provide the highest level of protection to ADR issuers. As part of this coverage there is increased access to a panel of U.S. lawyers to provide a specialized defense to litigation brought against ADR issuers directors and officers. Global companies can extend their coverage to their overseas subsidiaries. No deductibles are required for directors and officers when indemnification by the corporation is not permitted. Defense costs will be advanced to individual directors and officers for non-indemnifiable claims. Enhancement features and specialized products are available, including Entity Coverage for Open Market Securities Claims, Securities Offering Entity Coverage, Employment Practices Liability Insurance and Pollution Insurance.

Electronics Data Processors Errors & Omissions

- Description
This policy provides claims-made professional liability coverage for any corporation, partnership or individual providing the services of system analysis, software design, computer programming, data processing, system integration, consulting or information retrieval.

- Customer Profile
Prospective insureds include consultants providing the following services to their clients:
• Systems Analysis
• Software Design
• Computer Programming
• Data Processing
• System Installation & Training
For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
Worldwide coverage and full prior acts are available. Extensive knowledge of local customs, markets and laws with a worldwide network of underwriting and claims offices.

Fidelity Bonds for Financial Institutions

- Description
This policy provides the protection required by Banking and Financial Institutions while being flexible enough to handle tomorrow's needs. The protection provided is against losses caused by employees and external crime committed by third parties. The Financial Institution Bond is a pure financial loss insurance product, which provides balance sheet protection. Coverages are provided in the following areas:
• Employee Fidelity
covers losses resulting from dishonest and fraudulent acts committed by employees.
• On Premises Loss
covers losses from robbery, burglary, misplacement, mysterious disappearance, damage or destruction of property.
• Loss of Property in Transit
covers property stolen while in the care of a bank employee or in the custody of a transportation company.
• Forgery or Alteration
covers forgery or unauthorized changes to securities or negotiable instruments.
• Currency Coverage
covers losses due to receipt of counterfeit currency issued by any country where the institution maintains a branch office.
The financial institution bond may be expanded to include other exposures such as unauthorized trading losses and breaches of computer system security. Following are some selected policy and coverage highlights:
- Automatic Teller Machines
- Stop Payment Legal Liability
- Transit Cash Letter
- Computer System Security
- Electronic Data Processing 
• Policy Elements 
- One Year Policy
- Claims-made basis
- Limits of Liability up to $35 million

• Customer Profile
- Financial Institutions including :
- Bank Holding Companies
- Commercial Banks
- Building Societies
- Insurance and Reinsurance Companies
- Stockbrokers
- Mutual Funds and Advisors
- Finance Companies
- Mortgage Companies
- Credit Unions
- Clearing Houses
- Electronic Data Processing organizations

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

• Value Added / AIU Advantage  
- Loss Control Surveys
- International Network of Claims Experts
- Tailor made policies to comply with Local Laws.
- Locally admitted policies

Financial Institutions Directors & Officers Insurance

- Description
Directors and Officers of commercial banks, insurance companies and other financial institutions are under increased scrutiny; consequently, they find themselves involved in an alarming number of lawsuits. The list of potential litigants is virtually endless, and the types of lawsuits can be broken down into a number of categories (i.e., shareholder, debt holder, regulatory and employee actions). The financial institutions Directors & Officers Insurance policy provides coverage for claims brought against directors and officers of a company for actual or alleged breach of duty, neglect, misstatements, errors or omissions. Coverage includes advancement of defense costs granted prior to final disposition of a claim for individuals when the financial institution cannot provide such costs. Reimbursement for indemnification of directors and officers for any judgments, settlements, and defense costs associated with covered claims when the company has indemnified the insured for loss.
Customer Profile
Directors and Officers of commercial and investment banks, stock and mutual insurance companies, reinsurance companies, and non-banking financial institutions.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
AIU can provide U.S. $25 million in capacity. In the United States, an AIG subsidiary, National Union Fire Insurance Company of Pittsburgh, Pa., is the nation's leading provider of this type of coverage. AIG's international companies all have access to National Union's underwriting, claims and defense experience which are utilized to custom make coverage designed to provide the highest level of protection to ADR issuers. As part of this coverage there is increased access to a panel of U.S. lawyers to provide a specialized defense to litigation brought against ADR issuers directors and officers.Global companies can extend their coverage to their overseas subsidiaries. No deductibles are required for directors and officers when indemnification by the corporation is not permitted. Defense costs will be advanced to individual directors and officers for non-indemnifiable claims. Enhancement features and specialized products are available, including Entity Coverage for Open Market Securities Claims, Securities Offering Entity Coverage, Employment Practices Liability Insurance and Pollution Insurance. AIG is the leader in Financial Institutions D&O both in the United States and abroad, as such we have developed a network of expert claims and underwriting personnel to address the specialized needs of financial institutions.

Financial Institutions Professional Indemnity and Bankers Professional Liability Insurance (BPL)

- Description
Commercial banks, insurance companies and other financial institutions collectively offer a broad range of services to corporations and individuals, including trust management, real estate management and brokerage, securities brokerage, electronic data processing, loan origination, tax planning and wire transfer services. Increasingly, bankers and their institutions are vulnerable to lawsuits alleging failure to render professional services and commitment of errors and omissions in the execution of professional services. BPL insures bankers and banking institutions against claims of actual or alleged wrongful acts, errors, omissions and failure to render such professional services.

- Customer Profile
Commercial banks, savings banks, and savings and loan institutions that offer professional services to third parties for compensation, as well as their directors, officers, partners and employees.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
While coverage may be obtained through foreign markets, our experience has found it to be more costly and less responsive to both brokers' and insureds' needs.

- Additional Information 
 
• Provides payment for defense costs, settlements, judgements and other legal expenses.
• Covers claims brought against the insured anywhere in the world.
• Offers Employed Lawyers Professional Liability coverage as an option.
• BPL can be customized in almost any way to serve a financial institution's insurance needs (subject to policy limitations). BPL offers one of the most economical ways to secure a comprehensive professional indemnity program.

Investment Management Insurance

- Description
The Investment Management Insurance Policy offers the choice of distinct coverage and allows the Insured to select the coverage that are appropriate for its specific needs.
• Coverage A :
Investment Adviser Professional Liability and Corporate Reimbursement.
• Coverage B :
Mutual Fund Professional Liability and Directors and Officers Liability and Corporate Reimbursement.
• Coverage C :
Directors and Officers Liability and Corporate Reimbursement.

- Customer Profile 
• Covers claims brought against the insured anywhere in the world.
• Offers Employed Lawyers Professional Liability coverage as an option.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage 
 
• The AIG Companies have 15 years experience in the underwriting of this product.
• We have the ability to access other AIG Companies, giving us greater flexibility when responding to a clients specific needs.
• The versatility and flexibility of our form allows the client to purchase only the coverage he desires.
• We have a team of claims examiners dedicated to handling this line of business.

Additional Information
• Coverage applies to claims brought worldwide (including the US and Canada) for Wrongful Acts which occur anywhere in the world. We provide sixty days of automatic coverage for new funds and new portfolios of any Named Insured Fund.

Lawyers Professional Liability

- Description
Protects law firms and its partners, directors and employees from claims arising from activities arising out actions as a lawyer or notary. Coverage may also be available for activities as an outside director of a third party corporation.
Customer Profile
Sole practitioners, small, medium and large law firms.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
Over 20 years of experience writing law firms worldwide. Worldwide coverage and full prior acts are available. Coverage for "of counsel" attorneys and independent contractors is available. Extensive knowledge of local customs, markets and laws with a worldwide network of underwriting and claims offices.

Multi Media Professional Liability

- Description
This policy provides coverage for publishers and broadcasters for defamation, invasion of privacy, newsgathering , intellectual property and errors and omissions lawsuits.

- Customer Profile
Newspaper and magazine publishers; book and directory publishers; music publishers; publishers and producers of plays; screen plays; and film scripts; videotape production companies; companies engaged in preparing materials for publication and republication; electronic publishing services and researching, exhibition, serialization and material distribution services. Television and radio stations, motion picture companies and cable and satellite broadcasters.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
Coverage tailored to suit local customs and regulations. Worldwide coverage is available. One off production coverage is also available. Extensive knowledge of local customs, markets and laws with a worldwide network of underwriting and claims offices.

Pension Trust Liability Insurance (ERISA or Fiduciary Liability)

- Description
This policy provides coverage for payment of defense costs, settlements and judgments for damages for which the insured becomes legally liable, arising out of an actual or alleged breach of fiduciary duty under ERISA or similar common or statutory law. Coverage includes injunctive or non-pecuniary suits.
- Customer Profile
All for profit corporations. Past, present and future Directors and Officers, Partners, or Employees of the sponsoring entity while acting as fiduciaries. We tend not to aggressively pursue highly leveraged companies or companies with pension plans that are severely underfunded.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
Our policy offers built in coverage for welfare plans and employee benefits liability. We offer up to $25 million in limits. When D&O and PTL are written on a combination form, PTL can be put in the Three Year Program, which helps stabilize terms and conditions and limits premium increases to 25%. The policy provides for the advancement of defense costs to Directors, Officers, Employees or Partners of the sponsor organization when sponsor, plan, or non-natural person are not permitted or required to advance. PTL coverage may be endorsed on the AIR's Directors and Officers limits of insurance while retaining separate liability. Global extension is available for foreign plans. No Prior Acts exclusion is contained in the basic policy.

Professional Association Professional Liability Insurance

- Description
This policy provides claims made professional liability and Directors and Officers coverage for associations, trade groups, etc. Those covered include the entity, employees and volunteers. The policy covers most of the exposures involved in providing services to members and includes publishers liability for newsletters and other association literature.

- Customer Profile
Associations and trade groups of all sizes.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
• We offer a stable, financially secure market.

- Additional Information
•This coverage is a good entree into other lines of association's business. Extensive knowledge of local customs, markets and laws with a worldwide network of underwriting and claims offices.

School Leaders Professional Liability

- Description
Protects school entities, school boards, employees, student teachers and volunteers against claims of alleged or actual breach of duty, neglect, errors, misstatements, misleading statements or omissions. The policy provides "Insured versus Insured" coverage for lawsuits brought by employees against their employer. Wrongful Acts that can be covered, depending on the policy version, to include the following types of claims:
• Claims brought by employees :
Discrimination, Wrongful termination, Failure to hire, Failure to promote/ train, Breach of employment contract, Wrongful suspension, Sexual harassment, Failure to maintain insurance (defense cover only), Fiduciary Liability for Benefit Plans (defense cover only).
• Claims brought by students :
Wrongful suspension/ expulsion, Constitutional violations (i.e. freedom of speech, religion, assembly, privacy...), Corporal Punishment (defense cover only).
• Claims brought by parents :
Failure to provide special education, Failure to educate.
• Claims brought by vendors :
(defense coverage only) Breach of contract, Unfair bidding Procedures, Discrimination.

- Customer Profile
Public schools, private schools, cooperative facilities, vocational / technical schools, junior colleges, colleges and universities.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
Package including fidelity coverage is available. Extensive knowledge of local customs, markets and laws with a worldwide network of underwriting and claims offices.

Travel Agents Professional Liability

- Description
Protects travel agents and tour operators for claims arising out of or incidental to the profession. Coverage may include, bodily injury/property damage, non-owned auto, errors and omissions and personal injury.

- Customer Profile
Any retail or wholesale travel agency or tour operator.

For firms based outside of the USA and Canada, coverage may be written on a worldwide basis, including the jurisdictions of the USA and Canada. For USA and Canadian companies, coverage plans are offered for foreign operational exposures and for liabilities arising from products exported from the home country.

- Value Added / AIU Advantage
Worldwide coverage and full prior acts are available. Policy is tailored for the Coverage required by the insured. Extensive knowledge of local customs, markets and laws with a worldwide network of underwriting and claims offices.