AIG Unit To Pay Calif. Penalty For Fire Claims Handling

Law360, New York (September 26, 2012, 8:42 PM EDT) -- An American International Group Inc. subsidiary and York Risk Services Group Inc. will pay $285,000 to California to settle allegations that they violated the Fair Claims Settlement Practice regulations while handling wildfire damage claims, California's insurance regulator said Tuesday.

The allegations center on AIG unit New Hampshire Insurance Co. and York's handling of claims from the Sayre fire in Sylmar, Calif., which burned more than 11,000 acres and destroyed more than 600 structures and 480 mobile homes. New Hampshire authorized York to handle claims under policies...
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