There are many householders that have contracted the private firefighting services or protection that AIG Private Client Group offered, what will happend to them???
This is an interesting article, published at Bloomberg, by Jeff Plungis
Sept. 16 (Bloomberg) -- In the event of an American International Group Inc. bankruptcy, life-insurance policyholders would be guaranteed at least $100,000 in cash value and $300,000 in death benefits under a system of state-run groups set up to protect consumers.
About 100 insurers have been declared insolvent since 1991, none as large as New York-based AIG. Every state, Puerto Rico and the District of Columbia has had a guaranty association in place since the last major industry crisis led to the failures of Executive Life Insurance Co. in 1991 and Mutual Benefit Life Insurance Co. in 1993.
to read the full article