NU Online News Service, April 1, 12:10 p.m. EDT
Regulators for 50 states investigating American International Group's (AIG) reporting of workers' compensation premiums between 1985 and 1996 will seek to reach an agreement with the insurer in June, an attorney for one of the lead states said.
Among the issues the probe is examining is the possibility that AIG charged improper workers' comp rates. AIG is under legal attack for allegedly underreporting premiums, a move which could artificially limit the amount of high-risk residual market pool business the company would have to assume.
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