NEW YORK -- The American International Group (AIG), which has
written errors and omissions plus general liability insurance for
the trade, is paring down its services to the travel industry.
It recently sent nonrenewal letters to clients advising it would
no longer sell its travel agent professional liability coverage
(still featured as of July 25 at www.aigdirect.com due to a technical glitch).
It referred customers to other sources, and, in limited cases, to
other AIG products that might meet the travel firms' insurance
needs.
An AIG spokesman said he did not have a breakout of number of
travel companies affected or for specific reasons for dropping the
product.
Last year, Access America also dropped its E&O program, but
it had not been a major player.
The latest development makes the Berkely Group, the major
provider of E&O and general liability programs, even more
dominant. A Berkely spokesman said AIG had been its largest
competitor in this field.