From my past experience and that of other attorneys whom I know, American International Group (AIG) is one of the better insurance companies in terms of paying personal injury claims.
Although there is no guarantee, you have a reduced chance of having to sue AIG in order to get fair value for your injury claim.
It also means that they are more likely to evaluate the pain and suffering component of your claim at the upper end of the settlement range as compared to most other insurers.
But keep in mind that when an AIG claims adjuster is calculating your claim’s settlement value, they will still reduce – or increase – the full value of your accident case by any factors that warrant it.
AIG Group has absorbed Chartis Property & Casualty and re-issued their policies. Basically, AIG will re-issue Chartis policies.
In Florida, AIG writes casualty policies as AIG Assurance Company, AIG Property Casualty Company and AIG Specialty Insurance Company.
I found these company names from typing in “AIG” in Active Company Search on the Florida Office of Insurance Regulation website. I also knew the name(s) from having settled injury claims with AIG.
1. Who does AIG insure for personal injury?
AIG offers the following casualty products:
Coastal Condo, Hotels and Motels
Casualty Coverage to coastal condominiums, hotels and motels. Don’t be surprised if you see AIG on the other side if you slip and fall or are injured at a condominium, hotel or motel along the coast in Florida.
Insures Trucking operations, airline workers’ compensation and railroad operations.
Commercial Umbrella Liability
AIG offers commercial umbrella policies for coverage gaps and inconsistencies between layers of coverage for companies of varying sizes and business sectors. You will only be dealing with this coverage if you had catastrophic injuries (huge injuries).
Fitness and Recreation Centers Program
AIG insures local gyms and health clubs. Before you think you case against a gym or health club is a slam dunk, you should read any release and waiver of liability that you may have signed.
Insures hospitals, physicians, long term care, and pharmaceutical companies.
Insures companies under the U.S. Longshore and Harbor Workers’ Compensation Act (USL&H).
Insures manufacturers, distributors, wholesalers and importers involved throughout the chain of commerce. So if your child fractures an arm because one of the bars in his baby crib broke, AIG may insure the crib manufacturer, distributor, wholesaler or importer. The same is true if you fall off a defective ladder and are hurt by any product.
Workers’ compensation loss and medical benefits to workers injured in the course and scope of employment. If you are injured while making a delivery, while exiting your employer’s property, or have any work-related accident, then AIG could be the workers compensation insurer.
I assume that AIG will continue Chartis’ legacy of being one of the best at paying personal injury claims.
2. What are some AIG past settlements?
My actual case: $445,000 Settlement for man who was hit by a truck insured by Chartis while he was riding his motorcycle. This and all the settlements in this article are before deduction for attorney’s fees and expenses. Most cases result in a lower recovery. It should not be assumed that your case will have as beneficial a result.
After this settlement AIG absorbed Chartis and is now re-writing their policies. My client had one surgery to insert hardware in his fractured finger and another surgery to remove the hardware. He also had surgery to repair his lower leg fracture (tibia plateau) fracture.
The tibia fracture – not the finger fracture – was responsible for the majority of this settlement amount. We did not have to file a lawsuit.
My actual case: $14,300 settlement for a mother claimed soft tissue injuries after she was driving her, which was hit by another car in Venice, Sarasota County, Florida.
Venice is near Fort Myers. The at fault driver had bodily injury (BI) insurance through AIG. An ambulance took her to the emergency room at Venice Regional Medical Center.
She was given cream for her hands. She treated with a chiropractor for her pain in Nokomis, Florida.
Her hands were burned by her car’s airbag. She followed up with a plastic surgeon, but did not have surgery.
The burns went away after a few months. AIG paid its BI limits of $10,000.
Allstate Insurance Company, her uninsured motorist carrier, paid$4,300 in UM benefits.
Allstate was also her PIP insurer.
My actual case: $4,500 settlement for a young child who suffered personal injury soft tissue injuries while she was a passenger in her mother’s car. Another car crashed into the host vehicle. It happened in Venice, Florida.
She had a follow-up visit with her pediatric doctor. The at fault driver had bodily injury insurance through AIG.
AIG’s settlement check was made payable from Illinois National Insurance Co. They are an AIG company.
This is one of my many Florida child injury settlements.
3. Does AIG have enough money to pay your claim?
AIG is worth currently worth over 72 Billion dollars (market cap) so I do not see them having a problem paying your personal injury claim. If a casualty insurer in Florida declares bankruptcy, then the Florida Insurance Guaranty Association (FIGA) steps in but only up to $300,000.
I settled a case for $69,400 for a client who tore a ligament in his ankle when he tripped and fell in hole covered with grass overgrowth at an office complex. Their insurer – not AIG – went bankrupt. FIGA then stepped in for the insurer.
In my client’s case, it really didn’t matter that the insurer went bankrupt but had my client had more serious injuries then he may have only been able to recover up to $300,000 from FIGA.
Check out some of the many personal injury cases in Florida that we have settled, including but not limited to car accidents and slip and falls. We want to represent you if you were injured in an accident in Florida, on a cruise ship or boat. If you live in Florida but were injured in another state I may be able to represent you as well.
Who Does AIG use as defense counsel for Florida injury claims?
AIG uses several lawyers to represent their insureds and itself in Florida accident cases. For most cases, AIG uses house counsel.
This means that the law firm attorneys are AIG employees. They are paid salary.
AIG may also contract outside counsel if they face possible bad faith exposure, or if there is a conflict of interest.
- Law Offices of Scott Astrin (Fort Lauderdale and Tampa, Florida)
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Editor’s Note: This post was originally published in 2013 and has been completely revamped and updated.