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The American International Group (NYSE: AIG) insurers and Best Buy (NYSE: BBY) today announced that they have agreed to a multi-year renewal of their existing Geek Squad Protection agreement. The renewal ensures that the Warranty Division of AIG will continue to serve as the exclusive service provider of Best Buy's Geek Squad Protection Plans and other customer service related service contracts sold through Best Buy's multichannel distribution system in the United States.

AIG currently provides Geek Squad Protection Plans for Best Buy's wide variety of technology products and offerings through an array of turnkey solutions. Geek Squad Protection Plans are available for a wide range of computing, home theater, digital imaging, mobile phone, car electronics products, as well as major appliances. While many products come with a manufacturer's warranty, the protection plans extend the length of coverage and may offer additional benefits such as an improved “no lemon” policy, protection for accidental damage from handling, and image burn-in coverage.

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