AIG News

AIG Expands Cyber Coverage to Include Physical Risks from Cyber Events

AIG has expanded its cyber insurance offering to include property damage and bodily injury exposures. This new cyber offering provides commercial customers a way to manage physical risks to their operations from cyber attacks and cyber security failures. AIG’s expanded …

N.Y. Regulator Lawsky Sued by AIG Over Probe Into Unlicensed Insurance

American International Group Inc. sued to block New York’s top financial regulator, Benjamin Lawsky, from fining it over marketing insurance overseas without a state license, claiming it would be unconstitutional. AIG, criticizing what it called a “flawed and unconstitutional” interpretation …

N.Y. Regulators Say MetLife Fined $60M, to Cooperate in Probe of AIG

MetLife Inc., the largest U.S. life insurer, will pay $60 million after New York watchdogs found subsidiaries solicited business in the state without a license and made intentional misrepresentations to regulators. MetLife also agreed to cooperate with the New York …

Secret Service Agent Says Many Cyber Breaches Go Unreported

Many breaches in data security may be going unreported by American businesses. That’s according to Kirk Arthur, supervisory special agent for the U.S. Secret Service’s San Francisco field office. “Businesses simply don’t report it,” said Arthur, who was speaking in …

Fitch Upgrades AIG

American International Group Inc., the insurer that repaid a U.S. bailout in late 2012, has been upgraded by Fitch Ratings after buying back bonds and improving results at its units. The rating on senior debt was lifted to BBB+ from …

AIG Launches Cross-Border Casualty Risk Product for Multinational Companies

American International Group, Inc. (AIG) has launched its Global Casualty Single Solution (GCSS), a new product to cover cross-border casualty risks for U.S.-based multinational companies. The product is designed for middle market businesses with up to $700 million in annual …

AIG in Talks to Sell Aircraft Leasing Unit ILFS to AerCap

Insurer American International Group is in talks to sell its jet-leasing finance business to AerCap Holdings NV, according to reports. Netherlands-based AerCap, the world’s largest independent aircraft lessor, may team up with other bidders for International Lease Finance Corp (ILFC), …

AIG to Open $5.5M Tech Center, Bring 230 New Jobs to Charlotte, N.C.

North Carolina officials announced American International Group will invest more than $5.5 million to establish a technology center in Charlotte, N.C. With the new technology center, AIG plans to bring 230 new jobs to the region by the end of …

AIG Using Science to Define ‘Broker Quality Index,’ Not Following Market: Benmosche

Property/casualty insurance brokers who aren’t diligent about the accounts they’re presenting to American International Group risk being discovered through one of the features of the carrier’s analytical process, AIG’s CEO Bob Benmosche said Friday. Speaking on an earnings conference call …

Talent War Continues: XL Hires AIG’s Miller to Oversee Global P/C Claims

XL Group Plc, the insurer led by Chief Executive Officer Mike McGavick, hired David Miller as senior vice president and head of claims for international property/casualty coverage. Miller joins from American International Group Inc. and will work in London, reporting …