AIG Covers Nearly All Fortune 500 Cos., FSOC Says

Law360, New York (July 10, 2013, 2:44 PM EDT) -- In officially labeling American International Group Inc. as "too big to fail" Tuesday, the Financial Stability Oversight Council noted that the insurer covers 98 percent of the Fortune 500 and could not be easily replaced by rivals if it buckled.

The FSOC took into account AIG's significant role in the commercial insurance market as it concluded that the failure of the third largest insurer in the U.S. would inflict serious damage on the broader economy.

While explaining its designation of AIG as a systemically important financial...
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