Liberty Units Rebuff $450M AIG Insurance Pool Deal

Law360, New York (January 6, 2011, 8:20 PM EST) -- American International Group Inc. has reached a $450 million settlement with seven insurers in a sprawling class action over underreported premiums in a workers' compensation insurance pool, but several key plaintiffs have refused to go along with the deal.

AIG reached the settlement with Ace INA Holdings Inc., Auto-Owners Insurance Co., Companion Property & Casualty Insurance Co. Inc., FirstComp Insurance Co., The Hartford Financial Services Group Inc., Technology Insurance Co. and The Travelers Indemnity Co., according to a motion to intervene filed Wednesday in the U.S....
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