Rival Insurers' Competition Claims Are Bunk: AIG

Law360, New York (March 23, 2009, 12:00 AM EDT) -- Allegations that federal bailout dollars are giving American International Group Inc. an unfair edge over its competitors are without merit and stem from other insurance companies' frustration over their inability to wrest market share from AIG, the embattled insurer said Monday.

Some of AIG's largest competitors asked Federal Reserve Board Chairman Ben Bernanke not to let AIG use government aid to cut prices and get a leg up on others in the industry, the Wall Street Journal reported Monday. The meeting took place on March 4...
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