AIG to Pay at Least $25 Million to Settle California Review
American International Group Inc. (AIG), the insurer that counts the U.S. as its largest shareholder, agreed to pay $25 million to $30 million to settle a California review into whether the company held funds that should go to beneficiaries.
The deal requires the New York-based insurer to check the Social Security Administration’s Death Master File to determine if policyholders have died, according to a statement today from California Controller John Chiang and Insurance Commissioner Dave Jones.
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