AIG wins restraining order against Greenberg

A New York judge has granted American International Group a restraining order against its former chief executive officer, Maurice Greenberg, and his agency, Starr Technical Risk Agency, that bars Starr from placing its AIG risks with other insurers.

The judge said his restraining order would remain in effect until the parties settle their differences in arbitration.

AIG maintains that Starr Technical and AIG have had an exclusive contract since 1992.

C.V. Starr says that AIG is trying to keep its agency from competing. Starr claims that its agency is free to write accounts with other carriers when AIG is not competitive.