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AIG fined for misrepresenting insurance policies

Minneapolis/St. Paul Business Journal, November 27, 2012
MN will receive about $828,000 from a subsidiary of AIG Inc. as part of a multimillion-dollar fine over accusations that the company sold health insurance policies through misrepresentation and false marketing practices. MN was 1-of-5 lead states in the case against National Union Fire Insurance Co. (NUFIC). The states accused NUFIC of selling health insurance group policies to individual consumers, which is illegal in many states. The fine equals $1 million for each state that joins the agreement. So far 41 states have done so, and 9 states and Washington, D.C., have until Thursday to join.