AIG News

AIG Offers Loss Control for Corporate Aerospace Customers

American International Group Inc. (AIG) has partnered with Wyvern Consulting, an aviation risk management and safety auditing firm, to launch AirGuard safety and loss control services designed to address safety and regulatory risks faced by corporate flight departments, commercial air …

P/C Insurers Rush to Meet Rising Demand for Cyber Insurance

Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that’s been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this year from about …

AIG Names Fasano to New Chief Information Officer Post

American International Group Inc. has named Philip Fasano to the newly-created role of executive vice president and chief information officer. Fasano will be responsible for oversight of the company’s global information technology, including reviewing and updating technology systems and platforms, …

AIG’s Expanded Operations Will Create 300 Jobs in Kansas

American International Group Inc. held a grand opening Tuesday to celebrate its expansion in Olathe, Kan., which will bring 300 new jobs to the state by the end of 2015. Gov. Sam Brownback and AIG President and CEI Peter Hancock …

Two Plead Guilty in Iowa to Defrauding AIG, Face Decades in Prison

Former Iowa resident Christina M. Pender and California resident Robert K. Taylor have pled guilty to defrauding insurance company AIG out of hundreds of thousands of dollars, the U.S. Attorney’s Office for the Southern District of Iowa announced. Taylor also …

U.S. Loses Bid to Dismiss $25B Lawsuit Over AIG Bailout

A federal judge has rejected the United States’ bid to dismiss a more than $25 billion lawsuit filed by Maurice “Hank” Greenberg, the former chief executive of American International Group Inc., over the insurer’s government bailout, clearing the way for …

Viewpoint: Systemically Risky Insurers Merit More Oversight But Not Bank Rules

Could Warren Buffett’s Berkshire Hathaway Inc. threaten the stability of the financial system? The U.S.’s top regulators are asking themselves this question as they consider whether Berkshire and other large insurers should come under Federal Reserve oversight. The answer is …

How Insurers Would Wind Down If Needed to Avoid Future Bailout

American International Group Inc. and Prudential Financial Inc. told regulators they could divest units and halt policy sales to avoid taking a bailout in a future crisis. AIG, the insurer that repaid a U.S. rescue in 2012, and Prudential, which …

AIG Responds to Supreme Court ‘Fraud on the Market’ Ruling with D&O Endorsement

American International Group, Inc. (AIG) insurers have introduced a new policy endorsement that ensures primary directors and officers (D&O) policy funds are immediately available to clients named as defendants in securities lawsuits for the preparation of “event studies.” The endorsement …

AIG Launches Global Commercial Property Coverage for Mid-Market

The American International Group, Inc. (AIG) insurers have launched a new line of multinational commercial property products and services, including expanded coverage, loss prevention engineering, and risk management solutions, for mid-sized businesses confronting global risk exposures. AIG’s Property Performance Series …