A California insurance broker is suing American International Group, accusing the nation’s largest insurance and financial corporation of engaging in unfair business practices.
Insurance broker Linda Harris, president of the Independent Financial Planning Group, filed the lawsuit in Los Angeles Superior Court.
The lawsuit accuses AIG of using funds from its California insurance companies to support its financial services business and telling brokers and policy holders that the insurance business in insulated from its losses in the financial derivatives market.
Harris’ attorney says such practices put policyholders at risk of losing their savings. Harris and her company bought and sold more than $15 million of AIG life insurance.
A message was left with an AIG spokeswoman that was not returned by press time.
James Underwood says: 
Distracted Walking: Injuries Soar for Pedestrians on Phones
Restoring an East Coast Port Damaged by Superstorm Sandy
Carnival Files Suit Against Alabama Ship Repair Firm
Investigators Close to Pinpointing Colorado Wildfire Start
Post-Sandy Flood Maps Bring Some Relief to Coast
Rapid City Police Launch Pedestrian Safety Campaign
Colorado Wildfire Evacuees See Destruction Firsthand
GM Recalling 193,652 SUVs for Fire Risk
