Ever since C.V. Starr founded AIG in Shanghai a century ago, AIG has been synonymous with international business. But the insurance challenges of operating in multiple countries can be legion, including regulatory and capital requirements, tax concerns, exposures, coverages and proof-of-insurance needs where an organization operates. Whether or not to insure locally or globally is also a decision not easily made.
For businesses operating internationally, AIG Multinational has been a trusted partner for companies in need of customized multinational insurance solutions. With a community of over 500 dedicated experts worldwide, a global network spanning over 215 jurisdictions and in-depth knowledge of local markets, AIG has helped to keep organizations safe, compliant and protected across borders throughout the company’s history.
To cover their global exposures, multinational clients can opt for a single global policy issued to the parent company, or they can use standalone local policies issued to overseas affiliates. A third option is a controlled master program (CMP) that combines both options to provide the benefits of local and global insurance protection. Meanwhile, AIG’s captive management and fronting capabilities give clients extraordinary flexibility to determine for retaining risks or insuring risks not covered in the traditional market.
To do all this, however, AIG employs a number of tools, resources and processes to help clients achieve their risk, governance, contract certainty and duty-of-care objectives, while also delivering an efficient, seamless and globally consistent experience.
To explore the optimal approach to structuring a multinational insurance program, AIG’s Program Design Tool guides clients and brokers through local regulations, tax exposures, and coverage issues based on information from more than 215 jurisdictions.
MN Xpress is used by underwriters worldwide to produce bespoke reports that include global structuring rationale, territorial analysis, implementation timeline and a submission checklist that clients and brokers can leverage to ensure smooth program execution.
Through the online program management tool myAIG Client Portal , clients and brokers can check the status of CMPs and specific policy details; access key dates and premium amounts; and download policy documents and invoices. Meanwhile, clients can tap the robust business intelligence in our IntelliRisk ® claims dashboard, as well as Global Briefs to support their multinational risk management efforts.
Tools such as these, and AIG’s global network of trusted experts, help turn the challenges of managing a multinational insurance program into a world of opportunity.