Businesses that seek to change insurers in the wake of the financial distress that has beset American International Group face many potential pitfalls, a law firm is warning.
The alarm for risk managers was sounded by Anderson Kill & Olick, which noted a recent consulting firm survey that found 71 percent of AIG corporate insurance customers intend to get quotes from competitors.
Cort Malone, a Kill & Olick insurance recovery attorney, warned that the decision whether to switch insurance companies should not be made purely on the bases of price and financial strength.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
