American International Group Inc. (AIG), announced the formation of AIG Higher Education Risk Solutions, a division of the property and casualty insurance subsidiaries of AIG, to address the growing risks faced by colleges and universities.
The new unit’s Educators Elite product line offers a comprehensive range of property-casualty solutions to cover the distinct liabilities of the higher education market.
“Institutions of higher learning face diverse exposures,” said Tim McAuliffe, unit leader of AIG Higher Education Risk Solutions. “Dormitory fires, a food-borne illness in the dining hall, or an allegation of harassment in a classroom are just a few of the events that can have disastrous consequences for an educational facility. Leveraging the AIG Companies’ experience handling specialized claims, AIG Higher Education Risk Solutions helps mitigate these risks so that colleges and universities can focus on the day-to-day activities involved in educating students.”
AIG Higher Education Risk Solutions offers public and private colleges, universities, junior colleges and trade schools nationwide a broad range of customized coverages.
The Educators Elite line includes:
* General property insurance, providing up to $100 million in capacity for property risks on campus and around the world;
* Property terrorism insurance that goes beyond the federally mandated terror cover and responds to losses arising from terrorist acts committed in the U.S. or abroad;
* Primary general and management liability insurance with substantial limits and various attachment points;
* Excess casualty insurance, providing up to $150 million in excess protection for general liability exposures;
* Employment practices liability insurance for wrongful termination, sexual harassment and discrimination claims;
* Educators’ liability insurance, covering claims alleging breach of duty or negligence related to curriculum, employment practices and fiduciary responsibilities against trustees, faculty, administrators and volunteers; and
* Accident and health and travel accident insurance for students and faculty studying or traveling abroad.
For more information on AIG Higher Education Risk Solutions, contact LexHigherEd@aig.com .
Was this article valuable?
Here are more articles you may enjoy.