Nuts & Bolts: AIG Private Client Group, a Division of the property and casualty subsidiaries of American International Group Inc. (AIG), has introduced Excess Flood Coverage to support insureds in the event of catastrophic loss caused by flood. Aimed at homes with a replacement cost of greater than $1 million, the AIG Private Client Group Excess Flood program provides high limits of capacity. Its coverage follows the policy provided by the National Flood Insurance Program (NFIP), offering replacement cost coverage up to the amount specified on the individual policy for dwelling coverage; contents of the dwelling are insured based on an Actual Cash Value basis. The policy is designed to support rebuilding efforts for high-valued properties damaged by flood and to simplify the claims settlement process.
States Available: Arizona, California, Florida, Georgia, Hawaii, Maine, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Texas, Virginia and Washington, D.C. More states to be added in the near future.
Contact: local broker
Topics Excess Surplus Flood AIG
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