We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Blog + Articles

Categories

  • Industry Articles (13,692)
  • Industry Conferences (2)
  • Industry Job Openings (3)
  • Negative Media (128)
  • Positive Media (73)
  • Sheryl's Articles (522)
  • Sheryl's Blogs (150)
  • Wink's Articles (203)
  • Wink's Blogs (177)
  • Wink's Press Releases (80)
  • Blog Archives

  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • May 2008
  • February 2008
  • AIG Unit Seeks to Dismiss Lawsuit Over $5.9 Million in Online Losses

    October 29, 2019 by AM Best

    NEW YORK – AIG Specialty Insurance Co., a unit of American International Group Inc., has asked a federal judge to rule that the company does not have to cover $5.9 million in losses incurred by a policyholder attacked by suspected Chinese fraudsters.

    Attorneys for the company asked Judge Jed S. Rakoff, of the U.S. District Court for the Southern District of New York, to dismiss the lawsuit seeking coverage by SS&C Technologies Holdings Inc. The tech company argued the AIG special professional liability insurance policy covered losses it suffered when employees mistakenly transferred money to the fraudsters via fake transfer requests.

    The special professional liability insurance purchased by SS&C Technologies does not cover losses stemming from criminal activity, according to a motion filed by AIG attorneys.

    “Words matter,” the motion said.

    SS&C Technologies’ “arguments ignore the actual language of the policy at issue here,” the AIG motion said.

    “Under the clear and unambiguous language of AIG Specialty’s policy, indemnity coverage (the only coverage at issue in SS&C’s complaint) is excluded for claims ‘alleging, arising out of, based upon or attributable to a dishonest, fraudulent, criminal or malicious act, error or omission, or any intentional or knowing violation of the law,’” the motion said.

    Attempts to reach attorneys for SS&C Technologies for comment were unsuccessful.

    In July, a Delaware state judge ruled against AIG Specialty Insurance Co. and Lexington Insurance Co. in a dispute over whether they were obligated to cover the costs incurred by a policyholder in response to a fraud investigation by the Texas attorney general (Best’s News Service, July 9, 2019).

    AIG Specialty Insurance Co. has a current Best’s Financial Strength Rating of A (Excellent).

    (By Frank Klimko, Washington correspondent, BestWeek: Frank.Klimko@ambest.com)

    BN-NJ-10-10/29/2019-2019 1020 ET #

    Originally Posted at A.M. Best on October 28, 2019 by AM Best.

    Categories: Industry Articles
    currency