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Violation Tracker Individual Record

Company: AIG
Current Parent Company: American International Group
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $35,000,000
Year: 2014
Date: October 31, 2014
Offense Group: consumer-protection-related offenses
Primary Offense: insurance violation
Violation Description: AIG was penalized $35 million for Insurance Law and other violations related to its former subsidiaries ALICO and DelAm after a New York State Department of Financial Services investigation uncovered that those subsidiaries solicited insurance business in New York without a license and made intentional misrepresentations and omissions to the Department about those activities.
Level of Government: state
Action Type: agency action
Agency: New York Department of Financial Services
Civil or Criminal Case: civil
Facility State: New York
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: insurance
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.