AIG Sues Regulator to Block Insurance Marketing Probe
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American International Group Inc. sued to block New York’s top financial regulator, Benjamin Lawsky, from fining it over marketing insurance overseas without a state license, claiming it would be unconstitutional.
AIG, criticizing what it called a “flawed and unconstitutional” interpretation of New York law, asked a judge in Manhattan federal court today to block Lawsky and the state’s Department of Financial Services from pursuing AIG over the marketing of insurance to multinational companies by a former unit.