American International Group Inc. agreed to pay $11 million to resolve a multistate probe into its handling of death benefits, the second pact for state regulators this month as they push insurers to clear their books of overdue life-insurance payments, the Wall Street Journal reported today. AIG joined Nationwide Financial Services Inc., MetLife Inc., Prudential Financial Inc. and Manulife Financial Corp.'s John Hancock unit in settling with regulators amid accusations that the insurance industry has failed to do enough to find beneficiaries of policies they wrote years earlier. The companies all have agreed to routinely check their lists of policyholders against a Social Security Administration death database and have vowed to track down survivors of customers who have died.
