AIG Unit To Pay $2M Over Sales Tactics On Travelocity Sites

Law360, New York (March 25, 2013, 1:35 PM EDT) -- An American International Group Inc. company will refund about $2 million to LP consumers and stop questionable business practices on travel websites as part of a settlement with Missouri's insurance regulator announced Monday.

Regulators say that National Union Fire Insurance Co. of Pittsburgh, Pa., may have tricked customers into buying travel insurance by requiring them to opt out of the coverage. After wrapping up its investigation, the Missouri Department of Insurance, Financial Institutions and Professional Registration concluded that the opt-out methodology counted as an unfair...
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