Market Conduct Exam Forces AIG to Pay $1.25M Settlement for Mishandling WC Policies

American International Group will pay $1.25 million to the state of Missouri after a market-conduct examination showed that it had failed to file rate plans for large-deductible workers' compensation policies, the state Department of Insurance, Financial Institutions & Professional Regulation announced Tuesday. “The filing of workers’ compensation rates provides rate transparency, which is crucial for a competitive insurance marketplace, particularly for Missouri small businesses,” stated Department of Insurance Director John M. Huff in a press release. “Rate t...