AIG

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AIG is a premier financial services and insurance company having operations in over 130 nations. Companies belonging to AIG Inc. provide property and life insurance services to individual, corporate, and commercial customers. AIG also provides wealth management, retirement and financial services for its customers. AIG is listed in the stock exchanges of New York, Tokyo and Paris.

New York-based AIG suffered a severe liquidity crisis in September 2008 and borrowed US $85 billion from The US Federal Reserve in exchange of warrants corresponding to 79.9% equity. In this arrangement AIG had to suspend payment of dividends for already-issued ordinary and preferred shares. This was one of the biggest bailouts of a private organization by the US government ever. [1]

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[edit] AIG individual insurance plans

For individuals or families, AIG has various insurance plans, viz., life insurance, accident and health insurance, home insurance, vehicle insurance, and travel insurance. The retirement plans include endowment policy, annuity plan, and unit linked pension policy. Easy Retire, InvestAssure, and Assure Golden Years are some of the retirement insurance schemes offered by AIG. [2]

[edit] AIG business insurance plans

AIG business insurance products and services are extended to commercial and institutional customers. The different insurance products in this category include:

  • Health and accident – An insurance scheme designed to cover employees against accidents and health hazards
  • Corporate fleet program – This policy insures all vehicles and carriers owned by the policy holding company.
  • Marine cargo – Marine cargo policy covers damages that may be caused to goods or materials during transit in ships.
  • Trade credit – This ingenious insurance scheme protects a concern in both forms of open account sales, domestic and exports, against no-payment of sale proceeds by the customer. Customer’s default can either be due to insolvency or even political disturbance.
  • Property – Property insurance covers all commercial and immovable assets of a commercial, manufacturing, or service provider unit.
  • Energy – This policy is particularly helpful for power plants, petrochemical industries, highway builders and similar such organizations, where numerous risks are involved during the construction phase. Energy is a complex and comprehensive insurance coverage for such companies. [3]

[edit] See also

[edit] References

  1. ↑ Aig.com [1]
  2. ↑ Aig.com [2]
  3. ↑ Aig.com [3]

[edit] External links

[edit] Further reading

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