Q: Would AIG Policyholders Been Fully Protected?

  • 380p
    • Policyholder Protection
    • Mr. Kanjorski: And I know you are here for the National Insurance Commissioners, but could you give us an idea whether there is any real negative impact or risk to the insurance policyholders of AIG, specifically in Pennsylvania, but then as you may know, countrywide.
    • Mr. ARIO:  Even if there were more threats, of course, the policyholders under these insurance companies would be fully protected.
    • Chairman KANJORSKI:  So as I understand that, trying to be fair, if I were a policyholder, I would not fear the fact that my policy will be honored, can be honored, and the funds are there protecting me. So it will be honored; is that correct?
    • Mr. ARIO. That is absolutely correct.
    • Chairman KANJORSKI. Very good. (p24)