You buy insurance from AIG and then have to sue to collect for coverage afforded by their policy.
Why did I think things might change with Hank out of the picture?
I bet the bankrupt underwear company put money in an off-shore that AIG set up to handle their insurance program and the agreed to $$$’s is what remained after AIG deducted for legal fees, et al. I would bet AIG’s not giving up THEIR money.
Of course they are dumb. It’s Thursday and we have been dealing with people like you with their shorts too tight all week. Lighten up. I know I need to sometimes.
Hey Sanits Fan II, are you a humorless actuary or something? To keep it in the same context, lighten up turd. We are making the insurance industry a better place by making some light hearted observations. Go back to your pencil pushing number crunching while we have a few jokes.
Sanits (sometimes spelled “Saints”) Fan II sure has his panties in a bunch. I always thought us insurance types had a sense of humor and here we are proving it! “Sanits” must have been under water a little too long.
Since the info contained in this article was just crowning, I found the following info to get it all out. Sounds like the pollution actually had nothing to do with underwear, just chemical companies formerly owned by the fruits…….
The other sites involved are Velsicol Chemical (Hardeman) site in Toone, Tenn. and the Ventron/Velsicol site in Bergen County, N.J. In 2005, the AIG subsidiary fought efforts to collect the $100 million limit on the policy by suing NWI-I Inc., a bankrupt conglomerate that was formerly known as Fruit of the Loom Inc. that previously owned Velsicol. Velsicol took over the Michigan Chemical Company in 1963. In 1971 Velsicol began producing the fire retardant PBB. Following a mishap with PBB getting packaged into bags marketed for animal feed in the state, the company ultimately closed down in 1978. Velsicol in the next decade was bought out by the owner of Northwest Industries, which then was bought by Fruit of the Loom. By 1999, both entities were in bankruptcy. In its 2005 suit, AISLIC charged that NWI breached the terms of its policy when it agreed to transfer its coverage rights to the bankruptcy trusts. Le Petomane II Inc. and Le Petomane III Inc. became the trustee corporations of the Velsicol properties. Wednesday’s news release says the settlement “resolves a lawsuit that began in 2005 over environmental insurance coverage between AISLIC and the two bankruptcy trusts, and concludes litigation in which the Department of Justice intervened on behalf of the EPA, the Department of Interior, the Nuclear Regulatory Commission, and the National Oceanic and Atmospheric Administration. The states of New Jersey, Tennessee, Illinois and Michigan have also joined the settlement.”
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AIG tried to deny coverage? What’s this world coming to?
Sounds like they really hit the skids!
MWHAHAHA!!!
I didn’t know they went bankrupt. I think I am wearing Fruit of the Loom right now. I wonder how old this pair I am wearing is?
You buy insurance from AIG and then have to sue to collect for coverage afforded by their policy.
Why did I think things might change with Hank out of the picture?
Sounds like a lot of crap.
Just checked for grapes & a bananna…yup, they’re still there! Maybe they got their Haynes on them now.
Sorry I couldn’t resist.
I don’t know if I’d want to see the legal briefs on this one.
It sounds like AIG didn’t get much support from them.
I bet the bankrupt underwear company put money in an off-shore that AIG set up to handle their insurance program and the agreed to $$$’s is what remained after AIG deducted for legal fees, et al. I would bet AIG’s not giving up THEIR money.
Not content with the shirt off my back, now the Feds have taken my shorts too!
They were just trying to make their mark.
Let’s face it, insurance and underwear is a shi*ty business.
WOW – you mean it takes the EPA to get involved? You’d think AIG would want to have clean underwear in case of an accident or something…
What exactly needed to be cleaned up? Did all of the former employees take a collective dump at all of the closed locations? That’s so crappy!
Why don’t all you jerks get back to work and make the insurance industry better than it is.
What dumb comments!
Of course they are dumb. It’s Thursday and we have been dealing with people like you with their shorts too tight all week. Lighten up. I know I need to sometimes.
Hey Sanits Fan II, are you a humorless actuary or something? To keep it in the same context, lighten up turd. We are making the insurance industry a better place by making some light hearted observations. Go back to your pencil pushing number crunching while we have a few jokes.
How do you like them road apples?
Hershey Highway
Come on, Saints Fan II. You’re making me look bad. Speaking of turds and since we are N.O. Saints fans, they should be sued for this stinkin’ season.
Just a thought…
Never let the smell of the premium outweigh the stench of the risk?
Fruit of the Loom is bankrupt? What rectum?
must have been polluted panties… good one JP – Happy Thursday Every One!
Sanits (sometimes spelled “Saints”) Fan II sure has his panties in a bunch. I always thought us insurance types had a sense of humor and here we are proving it! “Sanits” must have been under water a little too long.
Since the info contained in this article was just crowning, I found the following info to get it all out. Sounds like the pollution actually had nothing to do with underwear, just chemical companies formerly owned by the fruits…….
The other sites involved are Velsicol Chemical (Hardeman) site in Toone, Tenn. and the Ventron/Velsicol site in Bergen County, N.J. In 2005, the AIG subsidiary fought efforts to collect the $100 million limit on the policy by suing NWI-I Inc., a bankrupt conglomerate that was formerly known as Fruit of the Loom Inc. that previously owned Velsicol. Velsicol took over the Michigan Chemical Company in 1963. In 1971 Velsicol began producing the fire retardant PBB. Following a mishap with PBB getting packaged into bags marketed for animal feed in the state, the company ultimately closed down in 1978. Velsicol in the next decade was bought out by the owner of Northwest Industries, which then was bought by Fruit of the Loom. By 1999, both entities were in bankruptcy. In its 2005 suit, AISLIC charged that NWI breached the terms of its policy when it agreed to transfer its coverage rights to the bankruptcy trusts. Le Petomane II Inc. and Le Petomane III Inc. became the trustee corporations of the Velsicol properties. Wednesday’s news release says the settlement “resolves a lawsuit that began in 2005 over environmental insurance coverage between AISLIC and the two bankruptcy trusts, and concludes litigation in which the Department of Justice intervened on behalf of the EPA, the Department of Interior, the Nuclear Regulatory Commission, and the National Oceanic and Atmospheric Administration. The states of New Jersey, Tennessee, Illinois and Michigan have also joined the settlement.”
This stuff is great. Really.