Litigation

Oregon Insurance Division of Department of Consumer and Business Services Urges Caution to Policyholders, Agents and Brokers on The Communication of Misleading Information Concerning AIG

By John Darer

Following on the actions of other state insurance commissioners the Oregon Insurance Division of Department of Consumer and Business Services stated in a September 24, 2008 press release that:

"AIG's insurance companies are financially sound, with substantially more in assets than they need
to pay all valid present and projected claims, the Department of Consumer and Business Services, Insurance
Division today reassured Oregon policyholders. If someone tells you to replace your policy because of AIG?s
recent financial troubles, the division urges you to consult with a trusted adviser or call the division?s toll-free consumer line at 1-888-877-4894.

As a holding company, AIG is a separate, federally regulated legal entity that is distinct and apart from its
subsidiary insurers. The subsidiary insurers are governed by state laws designed to protect the interest of
policyholders. The Insurance Division monitors AIG insurance companies and any other company that is
licensed to transact insurance in Oregon to make sure it is financially sound and can pay claims".

For a copy of the complete Oregon Insurance Division press release on AIG please click the following link Download 092408-aig-policy-replace-caution.pdf

Structured settlement annuitants need to be especially careful of "cash now pushers", who attempt to prey and profiteer on the human frailties and vulnerabilities of American General Life annuitants. Beware that there are some wolves in sheep's clothing in the structured settlement industry who may take kick backs from the "cash now pushers".

This author is compiling an expose of experiences of any American General Life annuitants who encounter "cash now pushers" or their agents. You have the opportunity to stamp out bad behavior by naming names.

Full post as published by Structured Settlements 4Real on September 26, 2008 (boomark / email).