Last week Adolf posted on the sorry saga that is AIG.
Zen Tiger has another perspective over at NZ Conservative.
Adolf looks back with amusement at the expensive PR exercise mounted two years ago to re brand the then AIA business. They renamed it AIG. Paid consultants a fortune for the job and patted themselves on the back now that they could piggy back off the good name and reputation of AIG. How the mighty have fallen.
Now you know why in the Life industry, those who have been around for a while will tell you 'big is not best.'
Readers might be interested to hear what the local 'industry' rumour mill is saying:-
Contrary to comments on certain blogs, there is no indication of an AIG internal policy to unreasonably reject claims.
The Australasian businesses are up for sale but nobody is prepared to pay the asking price.
There has been a shake up in underwriting with reinsurers raising their eyebrows at some recent past practice.
AIG's new business has tanked. They are taking a pounding.
Adolf would be very interested to hear from policy holders who do feel genuinely aggrieved.
There are a number of avenues for redress. (TVNZ's Fair Go programme is at the very bottom of the list.)
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