NATION
AIG to pay $146.5M for workers compensation settlement
TALLAHASSEE, Fla. (AP) - American International Group Inc. and its affiliates have agreed to pay $146.5 million to all 50 U.S. states and the District of Columbia to settle a complaint that it misreported billions of dollars in workers compensation premiums in past years.
Florida Insurance Commissioner Kevin McCarty, whose state was among those pressing the complaint, announced the settlement Tuesday.
AIG was accused of misreporting $21.1 billion in workers compensation premium as other lines of insurance in past years.
The company agreed to pay a $100 million national penalty and $46.5 million in additional premium taxes and assessments.
McCarty said Florida's share of the settlement will total $14.3 million. He said the misreported premiums had wrongly reduced AIG's taxes and assessments.
Telephones messages left for AIG by The Associated Press weren't immediately returned.
Would you like to contribute to this story? Join the discussion.
RecommendedRecent Facebook Activity
Only On 7
-
Leon Harris and Alison Starling weeknights on ABC7
For all the breaking stories happening in your neighborhood and developing stories happening around the world, join Leon Harris and Alison Starling weeknights on ABC7 News at 5 and 11.
TBD Blogs What you need to read
-
@TBD Arts
Tonight: Rhett Miller and the Serial Lady Killers
-
@TBD On Foot
Loudoun residents resist the Dulles Metro expansion with giant pig
Best of TBD In case you missed it
-
Food truck frenzy
Billed as the biggest food truck assembly to ever happen in D.C., "Curbside Cookoff: Trucko De Mayo" took place on Saturday with at least 40 vendors.
Photo Galleries Pictures from around the region
-
Maine Avenue Fish Market: Fresh fish for sale under a D.C. bridge
-
National Puppy Day photos: Celebrating the sweetness of dogs



_172.jpg)

_172.jpg)



3 Comments
Post a Comment