AIG offers environmental clean up cover

New York - Two AIG subsidiaries are to begin covering environmental liabilities related to the long-term clean up of contaminated sites. AIG Risk Finance and AIG Environment have joined forces to offer Environment Protection Programs (EPPs). These use risk transfer and risk financing elements to manage current and future liabilities related to contaminated land. The programs are based on finite, multi-year insurance policies and will offer financial incentives to companies which manage liabilities well. EPPs may also help companies meet their legal requirements for financial reserves.