AIG News

Allianz Is Lead Underwriter for Crashed Germanwings Airbus A320

German insurer Allianz confirmed it was the lead insurance underwriter for the Airbus A320 plane which crashed in the French Alps on Tuesday. All 150 people on board the plane, operated by Lufthansa’s Germanwings budget airline, were feared dead. “We …

Missouri Insurance Department Settles with AIG for $1.2M after Market Conduct Exam

Missouri insurance regulators announced a $1.2 million settlement agreement with nine AIG affiliated insurance companies after a market conduct examination into their handling of workers’ compensation insurance. During the course of the examination, the department alleged AIG insurance companies failed …

Lexington Product Recall Insurance Covers Celebrity Endorsement Risks

American International Group Inc.’s (AIG) Lexington Insurance has introduced Celebrity Product RecallResponse, a new insurance product designed to help customers respond to risks from a celebrity endorser’s public fall from grace, scandal or unexpected death. Celebrity Product RecallResponse covers certain …

Did New Mexico Court Open ‘Pandora’s Bong’ With Nod to Pot for Worker?

A can of worms has been opened, the horse is out of the barn and the industry is gazing into Pandora’s Box. There is no shortage of idioms for workers’ compensation experts who are concerned over a decision last week …

Glatfelter Healthcare Practice Adds AIG as Carrier, Expands Program

Glatfelter Healthcare Practice (GHP), an insurance program serving senior living facilities, home health care and other private homecare agencies, has expanded its program coverage with a new carrier, AIG. The package policy includes many enhanced coverage options such as: $50,000 …

2 AIG Subsidiaries File to Redomesticate From Pennsylvania to Illinois

Two subsidiaries of the American International Group — Granite State Insurance Company and New Hampshire Insurance Company — recently filed for approval a plan of redomestication that would change their state of domicile from Pennsylvania to Illinois. The two companies …

Cross-Sector Global Coalition Formed, Aiming to Cut Road Traffic Deaths

Ten major global companies have created “Together for Safer Roads,” a cross-sector coalition focused on improving road safety and reducing deaths and injuries by road traffic collisions around the world. The founding members are: Anheuser-Busch InBev, American International Group, AT&T, …

CorPro, AIG Offer Management Liability Products for Small, Mid-Sized Firms

CorPro Underwriting Managers will now offer directors and officers, employment practices, fiduciary and crime insurance coverage to small and mid-sized enterprises through its partnership with subsidiaries of American International Group Inc. This partnership provides a single point of entry exclusively …

AIG to Close Georgia Shared Service Center; Closure to Affect 420 Workers

American International Group Inc. said the company plans to close its Shared Service Center located in Alpharetta, Georgia next year. The move is expected to affect approximately 420 employees, AIG told Insurance Journal. “The closure of the Shared Service Center …

AIG Q3 Net Income Rises 1% to $2.19B, More Share Buybacks Planned

Insurer American International Group on Monday reported better-than-expected third quarter earnings, bolstered in part by improved performance at core insurance operations. After-tax operating income jumped 23 percent from a year earlier. Chief Executive Officer Peter Hancock said the company remains …