Insurance - New liability product unveiled - 11/06/2008

AIG Small Business, a unit of AIG Commercial Insurance, has today announced the availability of its new Contractors Pollution Liability Insurance designed for the needs of contractors with revenues under $10 million.

Contractors Pollution Liability (CPL) provides legal liability coverage for bodily injury, property damage, and environmental damage resulting from covered operations at a job site, whether performed by the contractor or a sub-contractor.

According to the company, CPL is available on either a claims-made or occurrence basis, and provides protection against third-party claims typically excluded under a commercial general liability policy.

Brian Inselberg, president of AIG Small Business, said: “Small residential builders, roofers, and other types of general contractors frequently face exposure to environmental risks associated with their work or the work of sub-contractors under their management. CPL coverage was designed to be a cost-effective way to address these contractors' risks.”

In April, American International Group renamed its domestic general insurance operations as AIG Property Casualty Group. The Insurance giant announced that the new AIG (American International Group) Property Casualty Group will include the AIG Domestic Brokerage Group companies, which will now be known as AIG Commercial Insurance Group, as well as the AIG Domestic Personal Lines companies, United Guaranty Corporation, and The Hartford Steam Boiler Inspection and Insurance Company.

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