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AIG Reaches $146.5M Settlement With States' Complaint for Misreporting Workers' Compensation Premiums

June 05, 2012 (1 min read)

Florida Insurance Commissioner Kevin McCarty announced today that a settlement has been reached between American International Group, Inc. (AIG) and its affiliates with all 50 states and the District of Columbia, as a result of AIG misreporting $2.12 billion of workers' compensation premium as other lines of insurance. The settlement agreement provides that AIG will pay a national penalty of $100 million and $46.5 million in additional premiums taxes and assessments. Read more.