Today’s issue of WorkCompRecap features news on a $450 million settlement in the Workers’ Compensation premium under-reporting case between AIG and a class of 600 members. Seven of the insurers involved, including The Hartford Financial Services group and Traveler’s Indemnity Co. have asked the Judge to allow them to accept the settlement for themselves and on behalf of the other hundreds of insurers involved in the class.
Liberty Mutual and its affiliates, Safeco and Ohio Casualty, having previously taken the lead in representing the class, are not as keen on accepting the settlement because it would end litigation “before the full extent of AIG’s wrongdoing has been revealed”.
Find out more, including a bit of the history of complaints against AIG for under-reporting its Workers’ Compensation premiums, by clicking here.
In a bit of lighter news, the WorkCompWire team would like to offer our congratulations to former Editor Pat Sullivan, as he joins PMSI as President of the Ancillary Services Division.