AIG unit ordered to pay $444mn to end Superior National dispute

Arbitration panel ends eight-years of legal proceedings over workers’ compensation claims AIG results resilient

A Californian arbitration panel has awarded $443.5mn to the state insurance department’s conservation and liquidation office, ending a reinsurance dispute between US Life, a unit of New York-based American International Group ( AIG), and five Superior National companies. The arbitration award, which is subject to court review, will go towards paying the claims of injured workers insured by the insolvent Superior National companies, according to California Insurance Commissioner Steve Poizner.