AIG Settles Workers' Compensation Probe For $147M

Law360, New York (December 22, 2010, 7:45 PM EST) -- American International Group Inc. has agreed to pay a total of $146.5 million in fines and additional taxes to settle claims by insurance regulators in all 50 states that it misreported more than $2 billion in workers' compensation premiums.

The settlement was announced Wednesday by Pennsylvania Insurance Commissioner Robert L. Pratter, who investigated the claims with the insurance departments in Delaware, Florida, Indiana, Massachusetts, Minnesota, New York and Rhode Island.

The deal calls for AIG to pay a combined $100 million in fines to insurance regulators...
To view the full article, register now.