Commissioner eyes AIG
California Insurance Commissioner Steve Poizner said Sept. 17 monitoring the AIG issue is the No. 1 priority of his department.
“The federal action offers maximum protection for AIG insurance customers in California and elsewhere,” Poizner said in a written statement. “The loan does not create any lien obligations on any of the AIG insurance assets, ensuring that their claims-paying capacity remains strong.”
AIG owns more than two dozen companies licensed to transact insurance in California including: 21st Century Casualty Co.; AIG Centennial Insurance Co.; AIG Premier Insurance Co.; AIU Insurance Co.; American General Indemnity Co.; American Home Assurance Co.; and American International Insurance Company Of California.