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18 May 2012

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AIG $550mn sting from workers’ comp

13 January 2011

The long-running probe into the misstatement of workers' compensation premium continues to haunt American International Group (AIG), with regulatory fines and potential litigation settlements mounting to $550mn in the past month alone.

AIG last month agreed to pay fines of $100mn to multiple state insurance regulators for under-reporting the volume of workers' compensation insurance premiums that it received.

And on 7 January it emerged that AIG had agreed in principle to a $450mn settlement with other insurers over claims that...

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