I've received several calls today from reporters wanting to talk about AIG.
The recently reports about a new government loan program have not changed my position on how insureds should tread AIG policies.
I continued to take a wait-and-see approach. As AIG programs are coming up for renewal I am suggesting that we obtain competitive proposals from other insurance companies. We will review the AIG proposal alongside the quotes from other companies.
In the consideration of which insurance company to move forward with, AIG's financial situation will certainly be a factor.
The fact remains that all of the most commonly used rating agencies continue to hold a rating above my minimum standards. A.M. Best rates of AIG as an "A." TheStreet.com (formerly Weiss ratings) shows most AIG companies in the "B" range.
I see no reason for hasty moves or panic.
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