Defense Base Act Compensation Blog

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AIG to pay $146.5M for workers compensation settlement

Posted by defensebaseactcomp on June 5, 2012

Associated Press at WJLA Tallahassee  June 5, 2012

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

4 Responses to “AIG to pay $146.5M for workers compensation settlement”

  1. Anonymousonpurpose said

    Typical!

    Let the states have the money instead of the injured who truly need it! Just like with the tobacco lawsuit, the only people who benefited were the lawyers and the damn bureaucrats that got more money to blow on lavish “conferences” in Vegas!

    WHERE IS THE MONEY FOR THE INJURED AIG?

  2. walleye said

    Criminals!!!!!

  3. Richard said

    hey I’m wondering this too, where is the money for all injured employees? They need it more than and State dose. Take the fair share of taxes, but also GIVE to rest to the people that really need it, NOT the stupid bureaucratic s and there GREED. This money dose not belong solely to the States, it also belongs to ALL of the injured employees who worked in Iraq and Afghan. They need it ore than any States does.

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