N.Y. Dept. Says AIG Investigation Continues
July 23–The New York Insurance Department said last week that an announcement it had issued a week earlier stating that an American International Group subsidiary made $500,000 in "illegal" premium collections was released inadvertently and the activity is still under investigation.
The news release, issued on July 17, stated that New Hampshire Insurance Company, as a result of a department investigation, had returned $500,000 to 600 policyholders hit with illegal charges for terrorism insurance on their homeowners policies.
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