AIG Settles A Claim For Underfunding Its Workers’ Compensation Program
AIG, an insurance company that recieved a generous bailout by the federal government, recently settled a claim by insurance company Liberty Mutual Group, alleging that it under-reported the workers’ compensation premiums that it collected. A $450 million settlement was approved by a U.S. Federal Court Judge. This was reported by Business Week. You can read the article by clicking on:http://www.businessweek.com/news/2011-07-25/aig-says-450-million-workers-compensation-deal-approved.html.
While insurance companies in New York are constantly complaining about the elevated costs of doing business, and the high rate for workers’ compensation payouts, it seems that insurance giant AIG is making substantial profits and under-reporting the premiums that it collected from the people they insured.
Workers’ Compensation has been under attack in New York and it is time for citizens to take a stand. In December 2010, the new Workers’ Compensation Treatment Guidelines were passed and medical benefits for injured workers have been substantially reduced. It is now much harder for New York injured workers to obtain the medical benefits that they deserve.
Mr. Kessler’s office is located in White Plains and he represents clients in Westchester, the Bronx, Manhattan, Queens, Brooklyn, Staten Island, Long Island, and Rockland County. If you have any questions, help is just a phone call away.