New AIG Unit Formed to Help Manage Terrorism Exposure and Risks

March 7, 2007

  • March 7, 2007 at 2:31 am
    O. Dear says:
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    Hi Everbody!

    Remember this?
    ATLA Blasts Greenberg for Terrorist Remark; TTLA Follows Suit
    February 27, 2004

    The Association of Trial Lawyers of America (ATLA) announced it has demanded a retraction and an apology from American Insurance Group CEO Maurice \”Hank\” Greenberg for calling them \”terrorist trial lawyers\” in a speech in Boston speech of Feb. 24, 2004. Greenberg reportedly made the remark in a speech to Boston College\’s Chief Executives\’ Club.

    ATLA said the comment comes as its members are completing the largest pro-bono legal project in American history, Trial Lawyers Care, which was set up to assist the families of 9/11 victims. Under its auspices, over 1,100 lawyers have helped over 1,700 individuals and surviving families file their claims with the September 11 Victim Compensation Fund, at absolutely no charge.

    The attorney\’s group cited Reuters as reporting, \”Greenberg likened the battle over reforming class action litigation to the White House\’s \’war on terror\’…. It\’s almost like fighting the war on terrorists,\” Greenberg told Boston College\’s Chief Executives\’ Club. \”I call the plaintiff\’s bar terrorists.\”

    ATLA noted that Greenberg is the highest paid executive in the entire insurance industry, and the tenth highest paid executive across all industries. His total compensation in 2003 topped $29 million, and his compensation over the last 5 years was more than $140 million.

  • March 7, 2007 at 4:44 am
    Bill Reed says:
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    If it weren\’t so pathetic it would be funny. Just because ATLA did some pro-bono work in the face of the worst terrorist event on American soil it thinks Greenberg owes it an apology? The federal government gave money away. It\’s questionable whether attorney involvement added any value to the process. And on that note, since when does the government owe private citizens damages for a terrorist attack? What happens next time? If people are worried about financial ruin due to terrorists, they should buy some life insurance. I oppose tax dollars being used for victims funds.



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