AIG Offering Environmental Insurance to Chamber Small Business Members

American International Group, Inc. (AIG) has announced that AIG Environmental, a division of the American International Companies, has been named the exclusive endorsed provider of environmental insurance products and services to the United States Chamber of Commerce.

The program, named Chamber EnviroPak, was designed to help Chamber of Commerce members address environmental exposures that can lead to significant financial loss. Chamber EnviroPak also helps small businesses secure capital for expansion by providing coverage for environmental liabilities that can be a barrier to obtaining capital. The program offers a comprehensive environmental insurance program for any type of property owner or operator.

Chamber EnviroPak offers Chamber of Commerce members a number of coverage options. PLL Commercial (Pollution Legal Liability Commercial) provides coverage for facility, contracting and product exposures in a single policy, allowing for efficient coverage of the environmental risks of most mid-sized facilities.

PLL policies can be customized to meet the risk management needs of a variety of businesses, such as dry cleaners, manufacturers and commercial and retail operations.

The second coverage option, TankGuard provides coverage for environmental liability associated with underground or aboveground storage tanks. The policy provides coverage for third-party bodily injury and property damage in addition to on- and off-site cleanup in the event a storage tank pollutes the environment. TankGuard is designed for gas station owners, convenience stores, and trucking or distribution organizations.

Additional benefits exclusive to Chamber EnviroPak include around-the-clock emergency toll-free assistance in the event of an environmental accident.

Chamber EnviroPak features automatic 3-year terms, eliminating the need to negotiate the policy annually, and unlike most environmental insurance programs, there is no minimum premium.

"Small businesses are often not aware that environmental liabilities can impact their profitability and can be an obstacle to obtaining capital for expansion," said Joseph Boren, president, AIG Environmental. "The insurance options available through Chamber EnviroPak offer Chamber members coverage for critical environmental risks in an easily accessible form. We are pleased to have the opportunity to work with the U.S. Chamber of Commerce to provide their members a valuable risk management solution."