AIG clients will receive a batch of services from DLA Piper, including a dawn raid checklist, a 24-hour rapid response number and advice on regulatory and reputation issues. The firm has also been added to some of AIG's policies for hedge funds.
DLA Piper competition and regulatory partner Mike Pullen said: "AIG has been very innovative in being the first insurer to offer this service. It has seen that regulatory risk is rising, and that directors are under increasing risk of prosecution from regulators."
DLA Piper has agreed to offer the service in Europe but hopes it will spread to Asia and the CIS.
By having legal representation from the first instance, AIG and DLA Piper hope that companies will be able to reduce any monetary or reputational damage caused by dawn raids.