Broker Sues AIG To Protect Calif. Policyholders

Law360, New York (May 22, 2009, 12:00 AM EDT) -- An insurance broker who bought and sold $15 million worth of life insurance from American International Group Inc. has sued the beleaguered insurance giant, several of its units and dozens of affiliated insurance companies conducting business in California for allegedly using billions of dollars of policyholder funds to support the risky investments of AIG's financial services unit.

In a complaint filed Thursday in the Superior Court of California in Los Angeles, Linda M. Harris, president of the Independent Financial Planning Group, alleges the defendants risked her...
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