AIG Offers Sponsored Captive Program
NU Online News Service, June 24, 9:37 a.m. EST?American International Group Inc. said it has set up a Vermont licensed captive insurer, National Union Fire Insurance Company of Vermont.
Charles Dangelo, AIG vice president of domestic general insurance and president of AIG Risk Management Inc., said the company's domestic program is responding to a market environment with an increased demand for alternative risk programs.
Risk managers, he said, "are being confronted with coverage gaps, shrinking capacity and increased retentions." The program, he said, offers "a solution for filling in their risk management programs and managing their increased retentions."
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