Rhode Island is acting to safeguard the estimated $131 million it has in investment accounts managed by financially struggling insurance giant American International Group.
State officials have formed a “SWAT team” to avert a worst-case scenario in which Rhode Island would lose access to its money, jeopardizing tens of millions of dollars needed for construction projects already under way.
General Treasurer Frank Caprio acknowledged that an AIG collapse might place a new burden on state and federal taxpayers.
But some fears were eased when the federal government announced an $85 billion bailout of AIG.
Copyright 2026 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Topics AIG
Was this article valuable?
Here are more articles you may enjoy.
D&O Market Expected to Tighten Under Pressure, Says AM Best 
Georgia Brokers and Agents Alarmed After Court Ruling Expands Liability for Them 
Howard Hughes Holdings Completes $2.1B Acquisition of Re/insurer Vantage Group 
NY Lawmakers Agree to Governor’s Auto Insurance Reforms in New Budget 
