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Violation Tracker Individual Record

Company: American International Group
Current Parent CompanyAmerican International Group
Parent at the Time of the Penalty Announcement subscribe to see this data field
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 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: 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.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.