Tag: AIG insurance

AIG requests more time before Bill Cosby legal fee payout

Logan B.
bill cosby legal insurance

The insurance company is seeking more time because its appeal about an April ruling is still pending. AIG has asked for more time before being required to pay the Bill Cosby legal fees associated with the controversial lawsuits launched back in 2015. At the moment, AIG is required to pay over $675,000 to the celebrity to cover his legal costs. AIG Property Casualty Company says it is entitled to more time before the Bill Cosby legal costs are settled as an appeal to a previous ruling on the subject is…

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Smart contract insurance partnership launches between AIG and IBM

Nordstrom
IBM Supercomputer - smart contract insurance

The insurer and tech giant will use blockchain for managing complex forms of international coverage. American International Group (AIG) and International Business Machines (IBM) are partnering to create a form of smart contract insurance policy. This coverage will employ blockchain for the management of highly complex forms of international insurance protection. The two companies recently completed the smart contract coverage policy pilot project. The smart contract insurance multi-national policy pilot provided Standard Chartered Bank PLC with coverage. The pilot used blockchain’s digital leader technology for what IBM and AIG called…

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AIG insurance company CEO steps down following huge loss

Logan B.
AIG Insurance company CEO - Building in Manhattan

Peter Hancock has opted to leave his current position with the insurer following a tremendous loss. It has been only three weeks since the report of massive losses from AIG and the insurance company CEO, Peter Hancock, has chosen to step down from his position. Hancock has been the AIG CEO for less than three years, when he was first appointed to the position. The insurance company CEO was chosen for the job in the hopes that he would be the person to turn things around at AIG. That said,…

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AIG makes insurance news with new high end clothing coverage

Julie Campbell
AIG Insurance company CEO - Building in Manhattan

The insurer is releasing a new product to help to boost its business from high net worth personal lines customers. American International Group (AIG) has revealed its latest insurance news that the latest component of its strategy to increase its appeal to high net worth personal lines policyholders, it will be releasing coverage for high end designer clothing. This will provide people with an insurance policy that goes above and beyond the standard homeowners coverage. More specifically, the insurance news is about the “wearable collections coverage”, which provides additional coverage…

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Insurance news from AIG could protect companies from celebrity antics

Julie Campbell
AIG Insurance company CEO - Building in Manhattan

The insurer has now released a type of coverage meant to protect stars against liabilities from endorsement deals. AIG has announced some of its latest insurance news, which has come in the form of a policy that has been designed to help to protect companies from the losses from a harmed reputation as a result of a celebrity endorser that has taken a wrong turn and has done something that could bring embarrassment, shame, or other damage to the company’s standing. The policies have limits that will protect companies for…

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