Violation Tracker Individual Record
Company:
American International Group
Current Parent Company:
American International Group
Penalty:
$146,500,000
Year:
2010
Date:
December 23, 2010
Offense Group:
consumer-protection-related offenses
Primary Offense:
insurance violation
Violation Description:
AIG agreed to pay $100 million in fines, plus $46.5 million in taxes and assessments, to insurance regulators in all 50 states and the District of Columbia for under-reporting its workers compensation premiums before 1996 and thus may not have paid its fair share of the workers comp residual market.
Level of Government:
state
Action Type:
agency action
Agency:
Multistate Financial Regulators Case
Civil or Criminal Case:
civil
HQ Country of Parent:
USA
HQ State of Parent:
New York
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
insurance
Source of Data:
AIG to Pay $146.5 Million to Settle State Allegations of Under Reporting Workers' Comp Premiums, Bestwire, December 23, 2010 (via Nexis).
Source Notes:
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note:
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.
