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Florida And Other States Fine AIG $100 Million; Reaches Settlement Agreement
05 Jun, 2012 WorkersCompensation.com
Tampa, FL (WorkersCompensation.com) - Florida Insurance Commissioner Kevin McCarty announced that a settlement agreement between the American International Group, Inc. (AIG) and its affiliates with all 50 states and the District of Columbia has become fully effective. The settlement is a result of AIG misreporting $2.12 billion of workers' compensation premium as other lines of insurance. As part of the settlement agreement, AIG agreed to pay a national penalty of $100 million, and $46.5 million in additional premium taxes and assessments.
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