Nine states have reached a $12.5 million settlement with American International Group over charges resulting from a 2004 investigation that found AIG, with the help of brokers, rigged bids and fixed prices on commercial insurance, officials said.
The states involved in the agreement are Florida, Hawaii, Maryland, Massachusetts, Michigan, Oregon, Pennsylvania, Texas and West Virginia. The District of Columbia is also part of the agreement.
In Florida, the announcement was made by Attorney General Bill McCollum, Chief Financial Officer Alex Sink and Insurance Commissioner Kevin McCarty.
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