AIG Companies has introduced AIG Passport for Errors & Omissions (E&O), a service created for multinational companies to facilitate purchasing locally admitted E&O liability insurance to cover their international operations and subsidiaries.

The company said AIG Passport provides an efficient service platform to address clients' need for admitted insurance policies in countries in which they have business operations.

AIG Passport for E&O is available for new and renewal business, and will initially be available in 18 of "the most in-demand countries."

It enables multinationals to purchase professional liability coverage tailored for specific industries, including: technology, real estate, travel agents, staffing/recruitment agencies and claims adjusting.

"Multinationals are looking for a streamlined way to purchase locally admitted liability coverage for their operations around the globe," said Lisa Butera, president, Professional Liability Division, AIG Executive Liability.

"AIG Passport can meet this demand by helping corporations obtain E&O policies that adhere to local customs, laws and regulatory guidelines."

Colin Buchanan, Professional Indemnity Manager, AIG Foreign General Insurance, added: "With the ever increasing level of litigation against professionals globally, this service ensures our customers receive the best protection regardless of where they operate."

AIG Passport for E&O is the third product to include the AIG Passport service.