AIG, the parent company of Travel Guard Insurance in Stevens Point is in deep financial trouble.

It bought out Travel Guard in 2006.

Monday, the state of New York approved a plan for AIG to financially restructure itself.

It will borrow $20 billion from subsidiaries, other companies it owns, just to stay in business.

AIG has lost billions of dollars over the last year because of the deterioration in the mortgage and credit markets.

Travel Guard is buildling a new headquarters in the Portage County Industrial Park.

When contacted by NewsChannel 7, AIG's manager of public relations would only say "we are conducting a strategic overview of our businesses, but no decisions have been made."