By Chelsea Schilling
After American International Group Inc, or AIG, reached two major bailout agreements totaling $152.5 billion in taxpayer dollars, the company is stepping up its dealings with Islamic finance by offering Shariah-compliant homeowners insurance to the U.S. – outraging critics over AIG's support of a "discriminatory ideology, that is against equality, and that is against liberty."
Specifically, while American taxpayers are loaning money to AIG and hold 80 percent equity interest in the company, AIG owns a Shariah-compliant insurance company, offering accident, health, motor, personal contents, property and casualty insurance coverage.
Now Risk Specialists Companies, Inc., or RSC, a subsidiary of AIG Commercial Insurance, is introducing its Shariah-compliant Takaful Homeowners Policy to the U.S., according to a Dec. 1 AIG announcement. The new insurance is said to be the "first installment" in a "series of Shari'ah-compliant (Takaful) product offerings in the U.S."
The Shariah-compliant policy is underwritten through RSC member company A.I. Risk Specialists Insurance, Inc., in conjunction with Lexington Insurance Co. and in association with AIG Takaful Enaya. Read more ...
After American International Group Inc, or AIG, reached two major bailout agreements totaling $152.5 billion in taxpayer dollars, the company is stepping up its dealings with Islamic finance by offering Shariah-compliant homeowners insurance to the U.S. – outraging critics over AIG's support of a "discriminatory ideology, that is against equality, and that is against liberty."
Specifically, while American taxpayers are loaning money to AIG and hold 80 percent equity interest in the company, AIG owns a Shariah-compliant insurance company, offering accident, health, motor, personal contents, property and casualty insurance coverage.
Now Risk Specialists Companies, Inc., or RSC, a subsidiary of AIG Commercial Insurance, is introducing its Shariah-compliant Takaful Homeowners Policy to the U.S., according to a Dec. 1 AIG announcement. The new insurance is said to be the "first installment" in a "series of Shari'ah-compliant (Takaful) product offerings in the U.S."
The Shariah-compliant policy is underwritten through RSC member company A.I. Risk Specialists Insurance, Inc., in conjunction with Lexington Insurance Co. and in association with AIG Takaful Enaya. Read more ...
Source: WND
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