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AIG Quadruples Terrorism Limits

Company raises limits on property claims to $1 billion as fear rises.

By Sonali Basak, Bloomberg | Updated on October 27, 2016

American International Group Inc. (AIG) lifted limits on property claims tied to acts of terrorism to US$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.

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