How do I contact AIG customer service?
Contact Us
- AIG Direct Sales. (800) 294-4544. Monday – Friday. 6:00 am to 6:00 pm (PST) Saturday. 7:00 am to 4:00 pm (PST)
- AIG Direct Customer Service. (888) 517-9797. Monday – Friday. 7:00 am to 5:00 pm (PST)
- General. Contact Info. AIG Direct. 9640 Granite Ridge Drive, Suite 200. San Diego, CA 92123. (858) 309-3000.
What is the phone number to AIG?
(800) 225-5244American International Group / Customer service
What happened AIG?
AIG’s swaps on subprime mortgages pushed the otherwise profitable company to the brink of bankruptcy. As the mortgages tied to the swaps defaulted, AIG was forced to raise millions in capital. As stockholders got wind of the situation, they sold their shares, making it even more difficult for AIG to cover the swaps.
What is AIG Scandal?
The most prominent scam in the recent history of American economy was the AIG Accounting Scandal of 2005. The AIG was found guilty of entering into sham transactions in order to inflate the reserves and to conceal losses. It was also found guilty of misled the Insurance Department about offshore affiliates of AIG.
What was the problem with AIG?
AIG was accruing unpaid debts—collateral it owed its credit default swap partners, but did not have to hand over due to the agreements’ collateral provisions. But when AIG’s credit rating was lowered, those collateral provisions kicked in—and AIG suddenly owed its counterparties a great deal of money.
What caused AIG to collapse?
Are AIG agents captive?
AIG offers a wide range of programs, from single parent and group captives, to segregated cell rent-a-captive structures. Clients without a captive can experience many of its benefits through participation in AIG’s own captive cell facilities.
What are the main reasons AIG failed?
AIG had to pay out on what it had promised to cover. The AIGFP division ended up incurring about $25 billion in losses. 2 Accounting issues within the division worsened the losses. This, in turn, lowered AIG’s credit rating, forcing the firm to post collateral for its bondholders.
What caused the downfall of AIG?
The company’s credit default swaps are generally cited as playing a major role in the collapse, losing AIG $30 billion. But they were not the only culprit. Securities lending, a less-discussed facet of the business, lost AIG $21 billion and bears a large part of the blame, the authors concluded.