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February 2021

TeamWorks
The Pulse of the Partnership

A Message from Tim DeSett, Head of North America Distribution, North America General Insurance

I hope you and those close to you remain safe and well as we enter a new year. As we remain operating in a virtual world, we will continue to engage with you on a regular basis to ensure we further enhance our mutually beneficial partnership.

This issue of TeamWorks  spotlights two areas where AIG and Aon are poised for accelerated growth – Marine and Energy. Also included are just some of our recent joint successes, information on how you can earn Continuing Education Credits through AIG’s new Multinational Courses and access to our updated Product Highlight Sheets. I am also pleased to introduce Ron Willett as our new North America Retail Distribution Leader. You can learn more about Ron and his role below.

In 2021, AIG strives to be your source of capacity, creative solutions and insights on emerging trends for you and your clients. We remain focused on building your Trust and Differentiating AIG through our capabilities and our ongoing engagement with you.

Thank you for your partnership. We look forward to a great year of shared successes. 

Best regards,

 

 

AIG Appoints New North America Retail Distribution Leader

Ron Willett was recently appointed North America Retail Distribution Leader and will be responsible for executing a consistent and coordinated retail broker engagement strategy for our Commercial Insurance business. He will work closely with our leadership and stakeholders to drive balanced trade, strengthen relationships and increase ease of doing business with AIG.

Formerly serving as Northeast Zone President, Ron has been with AIG for over 25 years with increasing responsibility in both underwriting and distribution roles. In his new role, he will drive the delivery of market-leading solutions to our distribution partners. Ron’s appointment reflects AIG’s commitment to collaboration, transparency and solving problems for our valued brokers.  

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AIG Energy: Energized for Growth in All Sectors

As 2021 begins, AIG’s Energy team is poised to expand its portfolio with new accounts (and to welcome previous customers back!) across a broad array of sectors – from oil rig and mining, to renewables.

“We have aggressive expansion strategies in place and have been building toward this important ‘pivot to growth’ moment,” says Warren Meigs, Americas Head of Energy at AIG, noting that AIG’s Energy team has also been expanding.

Energy continues to have an appetite for most energy occupancies, with key target areas like middle market chemical and renewables. “For our broker partners, our broad appetite enables us to build long-term, ‘balanced trade’ partnerships. For our insureds, it enables us to be there to help guide them on their journey to a more sustainable future,” Warren notes.



Central to AIG’s Energy partnerships is the underwriting and risk engineering expertise we bring to the table. “We help our insureds understand their risk and benchmark their exposure. We take a collaborative approach to delivering creative solutions and helping clients to continually enhance risk control measures,” Warren says.

In addition, AIG’s Claims Promise  affirms that after coverage is confirmed, we will advance our policyholders up to 50% of an agreed loss estimate within 7 days, giving them immediate working funds they need for property damage and repairs, clean-up costs and extra expenses.

With challenging market conditions incenting more energy companies to consider alternative solutions, AIG also stands ready to provide multinational fronting and captive services for North American energy companies.

To learn more, download our energy highlight sheet.

Want to discover more about energy and other product solutions? Visit Why AIG.

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AIG Marine North America: Invested in the Future

AIG Marine North America has been investing in marine talent and a new infrastructure that will drive growth in 2021 and beyond.

A longtime market leader in inland marine and ocean cargo insurance, AIG Marine North America has put in place a new Target Operating Model with four Centers of Excellence (COEs) that enable us to devote highly specialized expertise to market niches, while instilling a consistent appetite and capacity.

Our new COEs are:  

  • Ocean Cargo, led by John Barnwell, which provides coverage for physical loss or damage to goods in transit, principally containerized cargo risks, bulk and break-bulk commodities. All risks coverage is available on a warehouse-to-warehouse basis.
  • Marine Liability, led by Christian Platusich, which provides legal liability protection for bodily injury and property damage arising from an insured’s activities (includes defense costs).
  • Transportation & Logistics – Inland Marine, led by Jack Gould, which provides first and third party coverage for property physical damage and the legal liability exposures of independent motor carriers, municipalities, global third party logistic providers and warehousemen.
  • Construction & Equipment – Inland Marine, led by Sharon Primerano, which provides coverage for physical loss or damage to construction machinery and mobile equipment and tools used in contracting, installation, erection and repair, moving operations and projects.

Each COE closely aligns underwriting with AIG’s in-house marine loss control specialists, claims and actuarial resources, making it easy to access comprehensive marine solutions and services. AIG also provides multinational fronting and captive solutions that are in increasing demand in the marketplace.

“Our new model closely aligns with our broker partners and enables them to easily capture the synergies that exist across AIG’s general insurance offerings to secure multiline solutions for insureds”, explains Michael Nukk, Head of Marine - North America, General Insurance.

“In 2020, we laid the groundwork to hit the ground running this year, bringing our stable appetite and capacity to market and growing with our brokers,” he adds.

To learn more, download our marine highlight sheet.

COE Leadership

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Aon and AIG Success Stories 

Delivering Essential Excess Capacity
Early in the renewal process AIG communicated with Aon Chicago that it was not interested in expanding its quota share participation on a coal-fired power plant with an adjacent mine. Five days out from renewal, Aon told AIG that they were 10% short in a mid-excess layer. The broker did not see a reasonable path to completing the placement and was concerned. AIG huddled internally to discuss a way to deliver a solution for a valued partner.  Ultimately, noting the insured’s new investment in sustainability and emissions control (it had invested more than $1 billion in emissions control) and Aon’s need for support, AIG stepped up with the excess casualty capacity needed to complete the placement. That’s partnership in action!

Teamwork Leads to Energy Solution
A multinational Energy company was in need of Energy coverage after its incumbent carrier was undergoing de-risking efforts and was no longer able to write 100% of the program. The AIG New York and Aon teams, worked hand-in-hand to develop a solution for the client which provided the same form as the expiring program, helping the company feel more comfortable working with a new carrier. Great work AIG and Aon teams!

Expanding Our Partnership Globally
AIG’s Multinational Casualty, Defense Base Act (DBA) and Excess Casualty teams worked together with Aon San Francisco to move this technology client’s large, complex global program to AIG. Strong partnership and collaboration with Aon enabled us to demonstrate and reinforce our underwriting expertise and flexibility to find this client a solution. Our team met regularly to discuss terms and conditions and adeptly address any client concerns. In addition to the multinational program, we were also able to tailor a Marine Cargo program for this client earlier in the year. We look forward to expanding our partnership with Aon and this client in the future!

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AIG Multinational to Release External Training Curriculum 

AIG Multinational will be launching a free and accredited Multinational training curriculum (expected release dates below), fostering greater collaboration and partnership with our brokers, clients and internal stakeholders. The highly interactive, web-based courses will be accessible via The Multinational website.  

The first of three training courses to be launched is the ‘Controlled Master Program (CMP) Essentials’ course, which explores several key features of CMPs and will cover the following learning objectives:

  • How can I help my clients with their multinational risks and guide them through the complexities of multinational insurance?
  • Which Multinational insurance options and program structure is best for my client?
  • What are the key components of a successful Controlled Master Program?

The ‘CMP Essentials’ curriculum was developed by multinational insurance experts and has been endorsed and accredited by a range of professional education bodies globally, allowing all interested parties – from brokers and risk managers to underwriters and actuaries – to earn Continuing Professional Development (CPD) hours upon successful completion of the content and related assessment.

As a long-term goal, the AIG Multinational training curriculum will consist of three distinct courses:

Course Title

Format Expected Release
Foundational: Multinational Insurance Fundamentals Web-based learning portal, accessible via AIG website Q1/Q2 2021
Intermediate: Controlled Master Program (CMP) Essentials Web-based learning portal, accessible via AIG website Q1 2021
Advanced: Understanding Complex Multinational Risks In-person and/or live webinar TBD

For more information and to register, Get Started Here!

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AIG Product Highlight Sheets

AIG's new Product Highlight Sheets are now available. These sheets offer an overview of each product, key differentiators and examples of creative solutions AIG has provided brokers and clients. 

 Bookmark the site to easily access it for future reference.

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North America General Insurance Organizational Appointments


Will Fahey
Head of Management Liability for Private Non-Profit

Will has been appointed Head of Management Liability for Private Non-Profit. In this role, Will leads the performance of our Directors & Officers Liability, Employment Practices Liability, Fiduciary, Fidelity and Kidnap and Ransom product portfolios for private and non-profit organizations for all retail business as well as the wholesale channel for clients with revenue greater than $150 million. Will joins AIG with 25 years of industry experience, most recently serving as U.S. Leader for Corporate Management Liability, Berkshire Hathaway, which included both public and private commercial accounts. Will was a founder of the Private Non-Profit book of business at Berkshire Hathaway, growing that portfolio through a hardening market cycle with a focus on profitability.  


Rob Faber
Lead Regional Executive, Financial Lines

Rob has been appointed Lead Regional Executive, Financial Lines. In his expanded role, Rob will manage the delivery of the Financial Lines operating plans across North America. He will be responsible for driving alignment across the organization to maximize and align resources; ensuring consistency in underwriting practices with a focus on profitable growth; delivering efficient, effective customer service; and supporting our talent strategies. Rob joined AIG in 2002 and has held positions of increasing responsibility across various product areas and territories within Financial Lines during his tenure. Most recently, Rob was the Financial Lines Southeast Regional Executive and Head of Kidnap and Ransom for North America. Prior to AIG, Rob worked at Royal & Sun Alliance. 


Nora McGee
North America Head of Management Liability for National Accounts

Nora has been appointed North America Head of Management Liability for National Accounts (public companies with revenues of $1 billion and above). In this newly created role, Nora will lead the performance of our D&O, EPL, Fiduciary, Fidelity and K&R product portfolios for public companies in the national accounts customer segment. This includes developing and implementing a plan for profitable growth and defining AIG’s Management Liability value proposition and underwriting strategies with a focus on clarity, consistency and client centricity. Nora will work collaboratively to achieve the business’ strategic, operational and underwriting objectives. Nora joined AIG in 2006 in Financial Lines and has nearly twenty years of experience in the Directors & Officers Liability industry. Most recently, Nora was the Chief Underwriting Officer for Public Company Management Liability in North America where she played a critical role in improving the performance of the portfolio.


Steve Maggiacomo
North America Head of Management Liability for Corporate Accounts

Steve has been appointed North America Head of Management Liability for Corporate Accounts (public companies with revenues below $1 billion). In this newly created role, Steve will lead the performance of our D&O, EPL, Fiduciary, Fidelity and K&R product portfolios for public companies in the corporate accounts customer segment. This includes developing and implementing a plan for profitable growth and defining AIG’s Management Liability value proposition and underwriting strategies with a focus on clarity, consistency and client centricity. Steve will work collaboratively to achieve the business’ strategic, operational and underwriting objectives. Steve joined AIG in 2001 and has since held positions of increasing responsibility within Financial Lines, including Senior Vice President of the Commercial, National and Private Non-Profit Directors & Officers Liability Divisions for Financial Lines in the U.S. and Canada. Prior to joining AIG, Steve managed the Eastern Zonal Underwriting Operation for Axcelera Specialty Risk and worked as an Account Executive with Aon Risk Services.


Sharon Primerano
Construction & Equipment Product Lead for North America

Sharon will focus on product development and strategic execution, as well field underwriting talent management for the Construction & Equipment product pillar and will be based in our Philadelphia office. With over 30 years of experience in the Marine field with specialized focus on Inland Marine and related property business, Sharon has held prior roles at The Hartford as Change Agent Lead, Middle & Large Commercial Segments and Chief Underwriting Officer for the Marine Segment. 


Angela Harrelson
Head of Oil & Petrochemical, U.S.

Angela will focus on strategic development and leadership of our US Oil & Petrochemical book and our core client and broker relationships, including a role in the local as well as North America Energy Leadership team. Angela began her insurance career with AIG and we welcome her back after spending time with Swiss Re and Starr Technical. Angela's extensive experience over the last 15 years in the Oil & Petrochemical space has attributed to deep broker client relationships across the Houston market and beyond.


Joey Hayles
Senior Underwriter, Energy Captive & Risk Management Solution

In a newly created role, Joey will support the development of our Executive Underwriting Services for our Captive and Complex Risk Management clients across the Energy space in the US, in addition to an integrated Oil & Gas underwriting role within the Houston Energy Underwriting team as well as the local Energy leadership team. Joey is a seasoned risk professional with over 20 -years of experience creating, developing, and leading innovative risk management teams in all facets of energy insurance, reinsurance, and captives. Prior to joining AIG, he held several risk leadership roles at Crestwood Equity Partners, Hilcorp Energy Company and Highmount E&P.


Gustavo Paez
Underwriting Manager, Oil & Petrochemical

Gutavo will focus on Technical Underwriting leadership across our complex Oil & Gas book, with an emphasis on our major clients in the Americas Liquified Natural Gas (LNG) space, underwriting process improvement and staff technical skills developments, including a role in the local and North America Energy Leadership team. A mechanical engineer with over 20 years’ experience in the insurance industry, including loss adjustment and reinsurance brokerage in Colombia and Central America, Gustavo has spent the last 14 years with AIG.

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Our AIG Team

Our U.S. Field structure, led by our regional Zone Presidents, is the cornerstone of how we deliver our products and services to our brokers and clients. They are here to ensure we have an effective trading relationship with you. The team is reaching out regularly to your local offices and welcome your inquiries. 

View our U.S. Zone map and key contacts

Please feel free to share this newsletter within your organization.

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American International Group, Inc. (AIG) is a leading global insurance organization. AIG member companies provide a wide range of property casualty insurance, life insurance, retirement solutions, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange.

Additional information about AIG can be found at www.aig.com | YouTube: www.youtube.com/aig | Twitter: @AIGinsurance www.twitter.com/AIGinsurance | LinkedIn: www.linkedin.com/company/aig. These references with additional information about AIG have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this newsletter.

AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.