Category: Insurance

Recovering from Bad Faith Insurance

We purchase car insurance to protect our cars, home insurance to protect our houses and belongings, health insurance to protect our well-being and life insurance to protect our loved ones after we die. All of these insurance policies are purchased with the belief that the policy covers losses, injuries or other damages. All too often, insurance companies fail to provide the promised reimbursement and attempt to minimize your payout in every way possible.
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Insurer AIG Fined

© 2008 The Associated Press
By MARC LEVY Associated Press Writer

HARRISBURG, Pa. – The nation’s largest insurer, American International Group Inc., will pay $9.1 million in penalties to Pennsylvania for filing false financial information, state insurance regulators said Monday.

The agreement also resolves allegations in a separate case that AIG rigged bids and requires the insurer to adopt procedures to improve the transparency of the commissions AIG pays to agents and brokers, the state Insurance Department said.
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