American International Group, Inc. (AIG) announced the launch of its Global Casualty Single Solution (GCSS), a new product to cover cross-border casualty risks for U.S.-based multinational companies. The product is designed for middle market businesses with up to $700 million in annual revenue.
With GCSS, for the first time, brokers can access on behalf of customers AIG’s U.S. domestic, foreign, and excess casualty products and services through one underwriting contact, using one online submission, and a single global claims coordinator. GCSS provides companies with more consistency across policy forms to help mitigate the risk of casualty insurance gaps, whether based on geography, severity, or coverage type.
“Brokers serving small and medium-sized businesses want to access their multinational insurance partner in a simple way,” said Russell Johnston, president, U.S. Casualty. “We’ve updated our new multinational casualty process with brokers and customers in mind to create this new product.”
Preferred industries include manufacturing, wholesale, and financial institutions, as well as business, legal and engineering service firms.