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Thread: AIG and E&O??
09-15-2008, 04:24 PM #1
AIG and E&O??
With the news about AIG possibly going under I started to wonder what type of impact that will have on our E&O insurance that is underwritten by them?
I know that FREIA and a few others use AIG or one of their subsidiaries.
Scott Patterson, ACI
Spring Hill, TN
09-17-2008, 08:44 AM #2
Re: AIG and E&O??
I've been fielding questions about this since the news broke. There is no need for concern at this point. AIG, as most people know, is a holding company with roughly 47 subsidiary insurance companies. National Union Fire Insurance Company is FREA's underwriting company. Which is a profitable subsidiary for AIG. The ones who are in trouble are those which have a heavy stake in the investments geared toward securties backed by subprime mortgages.
There is a good article on CNN which gives some good insight on this topic. Check it out.
Five common AIG questions answered - Sep. 16, 2008