AIG 2013 Annual Report Download - page 10

When we need to be there.
AIG is in the business of helping customers plan for the future. One of the ways
we do that is by selling insurance products that customers hope they will never use.
Yet, when they need us, we are ready to make good on our promises. AIG Property
Casualty paid an average of more than $100 million in claims each business day
in 2013.
For instance, when Storm Sandy hit the northeastern U.S. in late 2012, it created a
worst-case scenario for many businesses, homeowners, and communities. One New
York City-based customer had a retail location that was particularly hard-hit. In the
early days of recovery, AIG advanced the business a $10 million claims payment,
and with AIG’s business interruption coverage, the store was able to retain all of its
employees during the months it took to rebuild and reopen in March 2013. In total,
AIG expects to pay out approximately $2.0 billion in claims related to Sandy, helping
our customers get back on their feet.
Through our insurance and retirement solutions, customers can also imagine a future
that they might not have before. In 2014, for example, AIG VALIC celebrates the 50th
anniversary of an American first: the enrollment of the first public K-12 school in a
403(b) retirement program. Two of that initial plan’s longest-served teachers (pictured
above) are now retired happily – and, with the returns on their accounts, both have
withdrawn more during retirement than they ever contributed.
95
years
An employee in West Berlin after World War II stands with a
Fiat Topolino; customers recognized the car and used to stop it
so they could pay their insurance premiums on the spot.
8