American International Group Car Insurance Review 
American International car insurance was founded in 1919 and is known as AIG. The insurance giant struggled during the housing crash and received a bailout from the government.
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UPDATED: Jan 26, 2021
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- AIG offers a variety of insurance coverage to meet virtually any need
- The company was forced to accept a bailout after the housing market crashed
- AIG owns several insurance companies that operate in the U.S.
American International Group, or AIG, was founded in 1919 by American C.V. Starr, although the name of the company was originally called American Asiatic Underwriters.
AIG was one of the fastest growing insurance companies in the world, spreading to 130 countries and offering services from banking to insurance and a variety of other financial services.
While AIG is a well-known company, they are currently financially struggling.
Part of their business was underwriting mortgages, and with the housing market crash, AIG took a serious hit and was forced to accept a bailout in order to continue to functions.
What American International Group Offers
The good news for current car insurance carriers with AIG is that they are currently in a position to pay any claims that come their way.
However, they are almost to the point of being overextended, which means that if something doesn’t change for the company soon, they will be unable to meet their financial obligations.
In addition, there are hundreds of insurance companies that are subsidiaries of American International Group that are also impacted by this problem, so you need to know who owns your car insurance company to ensure that they are stable.
For years, AIG was an excellent choice for car insurance. Today, however, it would be in your best interest to consider other options for your car insurance needs.