AIG Unit Fined For Underpaying Fire Victims' Claims

Law360, New York (March 6, 2012, 10:43 PM EST) -- California on Tuesday fined an American Insurance Group Inc. unit for violating the state's insurance code by underpaying policyholders who lost their homes in the 2008 Sayre, Tea and Freeway fires in Southern California.

The California Department of Insurance also said that it began an enforcement action against AIG unit New Hampshire Insurance Co. and its claims processing agent York Risk Services Group Inc., after fire victims had accused NHIC of offering policy limits that were too low to replace the mobile homes of some 370...
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