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Article: AIG bows to pressure, pulls lobbying efforts; Insurer's expenses placed under microscope.(News)(American International Group Inc.)
- Article from:
- Business Insurance
- Article date:
- October 27, 2008
- Author:
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: MARK A. HOFMANN
WASHINGTON-American International Group Inc.'s agreement to halt federal lobbying activities could have unintended consequences, according to lobbyists both inside and outside the insurance industry.
The move could cut off a source of information for Capitol Hill as lawmakers wrestle with the economic crisis, lobbyists said. But a consumer advocate said the move is more than justified.
AIG's decision came after Sens. Dianne Feinstein, D-Calif., and Mel Martinez, R-Fla., sent a letter to AIG Chairman and Chief Executive Office Edward Liddy. The letter asked him to end lobbying activities by AIG, which has received federal ...