Tuesday, April 26, 2005

AIG accounts investigation widens

The investigation into American International Group widened further on Tuesday after Eliot Spitzer accused the insurer of improperly booking premiums from workers' compensation policies.

New York's attorney-general alleges the insurer inappropriately recorded premiums for workers' compensation coverage as premiums for general liability coverage to avoid millions of dollars in required payments to compensation funds, which are sponsored by states.

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