American International Group, Inc. (AIG) Financial News - [$$] Family Sues AIG Over Policy on Mom's Life
American International Group, Inc. (AIG)
[$$] Family Sues AIG Over Policy on Mom's Life
2010-07-23 01:56:55
Quote: BY LESLIE SCISM AND MARK MAREMONT A dispute over a huge life-insurance policy on an Indianapolis woman who drowned, fully clothed, in her bathtub took a new twist this week when her family alleged American International Group Inc. ran a "scheme" to let investors buy big policies on older people as speculative bets. The woman's estate is seeking $45 million in damages from the New York insurer, according to a filing late Wednesday in federal court in Indianapolis. The filing was part of pending civil litigation in which the family is trying to wrest control of the $15 million policy from a local entrepreneur who had ......
Open whole article (external link)
Other Financial and Stock Market News concerning American International Group, Inc.
American International Group, Inc. Stock Summary
American International Group, Inc., through its subsidiaries, provides insurance and financial services in the United States and internationally. It operates in four segments: General Insurance, Life Insurance and Retirement Services, Financial Services, and Asset Management. The General Insurance segment underwrites various business insurance products, including large commercial or industrial property insurance, excess liability, inland marine, environmental, workers? compensation, and excess and umbrella coverages. It also offers various specialized forms of insurance, such as aviation, accident and health, equipment breakdown, directors and officers liability, difference-in-conditions, kidnap-ransom, export credit and political risk, and professional errors and omissions coverages. In addition, this segment provides property and casualty reinsurance products to insurers; automobile insurance products; residential mortgage guaranty insurance products; and commercial and consumer lines of insurance products. The Life Insurance and Retirement Services segment offers individual and group life, payout annuities, endowment, and accident and health policies, as well as retirement savings products consisting of fixed and variable annuities. The Financial Services segment provides commercial aircraft and equipment leasing, capital market operations, consumer finance, and insurance premium financing. The Asset Management segment offers investment-related services and investment products to individuals, pension funds, and institutions. The company was founded in 1967 and is based in New York, New York.
