X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
(Bloomberg) — American International Group Inc. agreed to pay a $35 million penalty to resolve a New York State probe into unlicensed insurance sales by former units.

The subsidiaries, American Life Insurance Co. and Delaware American Life Insurance Co., solicited business in New York without a license and made misrepresentations to the state watchdog, according to a statement today from the Department of Financial Services.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.