American International Group will pay a total of $146.5 million to be distributed among all 50 states following a probe that sought to determine whether the insurer violated premium-reporting rules governing Workers' Compensation insurance.
The state of Pennsylvania, a lead state in the probe spearheaded by a group of several states including Delaware and Florida, says it will receive more than $16.8 million in fines and assessments as part of the settlement—a figure that includes the biggest fine levied in the agency's history, according to the state insurance department.
Pennsylvania says its share breaks down to $8.6 million in fines, $3.6 million to the state's Workers' Compensation Security Fund, and $4.6 million in premium taxes and assessments.
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