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AIG Quadruples Limits for Terrorism Insurance to $1 Billion

  • AIG seeks to “respond to terrorist attacks worldwide”
  • Insurer has hired more than 600 engineers to manage risk
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AIG Boosts Limits for Terror as Fear Rises

Photographer: Michael Nagle/Bloomberg
Updated on

American International Group Inc. lifted limits on property claims tied to acts of terrorism to $1 billion as clients ask for more protection in larger cities.

The previous limit was $250 million, New York-based AIG said Wednesday in a statement. Protection can be purchased alone or as part of a larger, $2.5 billion property-insurance policy that provides coverage for a broader array of risks.