American International Group launched a new product to cover cross-border casualty risks for U.S.-based multinational companies, the company announced in a press release. Called the Global Casualty Single Solution (GCSS), the product is designed for middle market businesses with up to $700 million in annual revenue.
GCSS allows brokers to access on behalf of customers AIG's U.S. domestic, foreign, and excess casualty products and services through one underwriting contract, using one online submission, and a single global claims coordinator. This consistency across policy forms can help mitigate the risk of casualty insurance gaps, whether based on geography, severity, or coverage type.
The product was developed with the manufacturing and wholesale industries, financial institutions, and business, legal, and engineering service firms in mind.
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