AIG subsidiaries will pay $103m to US flooring manufacturer Congoleum to settle asbestos-related claims.
Congoleum said the settlement resolved claims against AIG units that provided excess insurance coverage under policies carrying a total of $114m in liability limits for asbestos bodily injury claims.
Under the terms of the agreement, certain AIG companies will pay up to $103m into a trust fund over a period of 10 years, provided that Congoleum's bankruptcy reorganisation plan is approved.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
