The National Workers' Compensation Reinsurance Pool (NWCRP) in Chicago filed a federal lawsuit today accusing American International Group of defrauding hundreds of rival workers' compensation insurance carriers of possibly $1 billion by ducking its required share of the high-risk comp market.
AIG meanwhile filed its own lawsuit in New York state court seeking a declaration that the charges at issue were disposed of when it arranged a $301 million settlement with the New York Attorney General's Office in January 2006.
The NWCRP suit, filed in U.S. District Court for the Northern District of Illinois in Chicago, also names 13 of AIG's operating companies. It was brought by the National Council on Compensation Insurance Inc., acting as attorney-in-fact for participating NWCRP companies.
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