LexisNexis® Legal Newsroom
AIG Reports $1.5B Net Income for 1Q 2010

NEW YORK, NY - American International Group, Inc. (AIG) today reported net income attributable to AIG of $1.5 billion for the first quarter of 2010, or $2.16 per diluted common share, compared to a net loss of $4.4 billion or $(39.67) per diluted common share in the first quarter of 2009. First quarter...

IL: AIG Ordered to Turn Over Records in Alleged Workers' Comp Fraud Suit

CHICAGO, IL - Bloomberg BusinessWeek reports that a U.S. District Court, Northern District of Illinois judge has ordered AIG to turn over non-confidential documents by September 1 to competitors who have filed a lawsuit, alleging AIG underpaid industry-funded pools by hiding revenue used to calculate...

IL: Judge Allows AIG to Pursue Racketeering Claims Against Rival Workers' Comp Insurers

CHICAGO, IL - U.S. District Court Judge Robert Gettleman has ruled that American International Group Inc. may pursue racketeering and other claims against rival insurers, including Hartford Financial Servics Group Inc., Liberty Mutual Group, and Travelers Cos., for allegedly conspiring to cause it harm...

AIG to Pay $146M in Workers’ Comp Settlement for Alleged Underreporting of Premiums

American International Group will pay a settlement of $146,500,000 to state governments as a result of a multi-state investigation that determined that AIG under-reported workers' compensation premiums, thus lowering premium taxes and premium-based assessments that were due to the states. Read more...

LA: Insurance Commissioner Signs On To National AIG Settlement

Baton Rouge, LA (CompNewsNetwork) - Louisiana Insurance Commissioner Jim Donelon has signed on to a multistate examination of American International Group’s (AIG) admitted practice of under reporting workers’ compensation insurance premiums. Louisiana is slated to receive $3,842,988.00 in...

AIG Says Court Has Given Preliminary Approval of Workers' Compensation Settlement

American International Group Inc. has announced that the United States District Court for the Northern District of Illinois has given preliminary approval to a deal settling claims that AIG under-reported the workers' compensation premiums it collected in order to reduce payments to an industry-funded...

Liberty Mutual Plans to Appeal $450M AIG Workers’ Comp Settlement

Liberty Mutual has indicated its dissatisfaction with the preliminary approval by the United States District Court for the Northern District of Illinois of a settlement of claims that AIG under-reported the workers' compensation premiums it collected in order to reduce payments to an industry-funded...

Liberty Mutual’s Appeal of AIG’s $450M Workers’ Comp Settlement Is Denied By Seventh Circuit

The United States Court of Appeals for the Seventh Circuit has rejected Liberty Mutual's discretionary appeal of the certification of the class in the settlement of claims by a group of insurers against AIG regarding AIG's under-reporting of workers' compensation premiums that it collected...

Federal Judge Approves $450M AIG Workers’ Comp Class Action Settlement

Liberty Mutual plans to appeal the judge's order. The dispute centers on allegations that AIG intentionally underestimated its workers' comp premiums to avoid premium taxes and substantial residual market charges before 1996. Read more at InsuranceNewsNet . For more information about LexisNexis...

Workers' Comp Fraud Blotter (5/31/2012) – AIG Fined; Largest Fine in Pennsylvania Insurance Department’s History Levied

Each week we'll be surveying what the media, state agencies, insurance companies, and others report in terms of workers' comp fraud. Just like a police blotter, our workers' comp fraud blotter lists recent arrests, charges, convictions and investigations. Workers' Comp Fraud Blotter...

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

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...

National and State-by-State Workers' Comp News Roundup Powered by Larson's (9/23/2012)

Sign up here for our free workers' compensation enewsletters (National or California Edition) to receive weekly news items. Be sure to select the enewsletter of your choice. NATIONAL NEWS: House E&C Committee Gives SMART Act Unanimous Support . Judge Approves $4M Settlement Between AIG...

National and State-by-State Workers' Comp News Roundup Powered by Larson's (4/1/2013)

Sign up here for our free workers' compensation enewsletters (National or California Edition) to receive weekly news items. Be sure to select the enewsletter of your choice. NATIONAL NEWS: 7th Circuit Rejects Liberty Mutual’s Challenge to AIG Class Action Settlement Order . NAIC Ranks...

National and State-by-State Workers' Comp News Roundup Powered by Larson's (4/8/2013)

Sign up here for our free workers' compensation enewsletters (National or California Edition) to receive weekly news items. Be sure to select the enewsletter of your choice. NATIONAL NEWS: Judges Rule AIG/Liberty Mutual Settlement Won’t Adversely Affect Pending Appeal. AIG Reduced...