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Guaranty Association to Meet on AIG Settlement

Thursday, May 17, 2012 | 0

The Florida Workers' Compensation Insurance Guaranty Association will meet Friday to vote on whether to opt in to a $146 million settlement with American International Group (AIG) over the underreporting of premiums.Guaranty Association Executive Director Sandra J. Robinson said the association is due slightly less than $6 million from the multi-state settlement. AIG reached the settlement with regulators in December 2010 to resolve allegations that the carrier underreported premiums by $2.12 billion to reduce assessments and fees it paid to assigned-risk pools and guaranty funds around th...

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