I would wonder who the carrier is for AIG’s D&O risks. The coverage would presumably have been layered among many companies but with that much coverage in place (82 million) you really have to wonder if somewhere in that coverage scheme an AIG business unit like Lexington or National Union isn’t lurking as a reinsurer to someone else.
the article explained that their D & O policy is going to pay for the settlement. Which in my estimation is putting an ufair settlement on their D & O carrier. Since thier actions which put thec ompany in that position we questionable I feel that the individuals named should cough up the settlement.
That is the reason they carry D&O coverage. If the directors/executives were acting independently of AIG then they should be held accountable for the settlement, but they were acting on behalf of the company.
Are we really that naive to believe that this $115M will be paid by the FED/tax payer? It clearly states in the article that the D&O carriers are on the hook for most of this. Thus the reason insurance carriers are require to hold a surplus to pay losses.
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I would wonder who the carrier is for AIG’s D&O risks. The coverage would presumably have been layered among many companies but with that much coverage in place (82 million) you really have to wonder if somewhere in that coverage scheme an AIG business unit like Lexington or National Union isn’t lurking as a reinsurer to someone else.
And gee, I wonder who is going to pay this $115 million law suit???? The Feds (of course means all of us)
the article explained that their D & O policy is going to pay for the settlement. Which in my estimation is putting an ufair settlement on their D & O carrier. Since thier actions which put thec ompany in that position we questionable I feel that the individuals named should cough up the settlement.
None of this claim will be paid by tax dollars.
That is the reason they carry D&O coverage. If the directors/executives were acting independently of AIG then they should be held accountable for the settlement, but they were acting on behalf of the company.
Are we really that naive to believe that this $115M will be paid by the FED/tax payer? It clearly states in the article that the D&O carriers are on the hook for most of this. Thus the reason insurance carriers are require to hold a surplus to pay losses.