American International Group Inc. will pay California $15.6 million in penalties to settle allegations that its insurance companies underreported workers’ compensation premiums over several decades, Insurance Commissioner Dave Jones announced on Thursday.The $15.6 million settlement will be paid directly to California’s General Fund, Jones said. With lawmakers in Sacramento currently exploring ways to close an estimated $16 billion budget deficit, Jones said in a statement that “every bit helps.”The payment from AIG is part of a $146.5 million settlement AIG reached wit...
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