8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549




                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

  Date of Report: (Date of Earliest Event Reported): May 10, 2002 (May 8, 2002)





                       AMERICAN INSURED MORTGAGE INVESTORS
             (Exact name of registrant as specified in its charter)

        California                      1-11060                 13-3180848
(State or other jurisdiction          (Commission            (I.R.S. Employer
     of incorporation)                 File Number)          Identification No.)







                              11200 Rockville Pike
                            Rockville, Maryland 20852
  (Address of principal executive offices, including zip code, of Registrant)

                                 (301) 816-2300
              (Registrant's telephone number, including area code)


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Item 4.  Changes in Registrant's Certifying Accountant
- ------------------------------------------------------

     On May 8, 2002, CRIIMI,  Inc., a wholly owned subsidiary of CRIIMI MAE Inc.
and the  general  partner  ("General  Partner")  of  American  Insured  Mortgage
Investors (the "Partnership")  dismissed Arthur Andersen LLP ("Arthur Andersen")
as the  Partnership's  independent  auditors.  Arthur Andersen has served as the
Partnership's  independent  accountants  since 1991.  A new  independent  public
accounting  firm is  expected to be engaged by the  General  Partner  during the
second quarter of 2002.

     Arthur  Andersen's  reports  on the  Partnership's  consolidated  financial
statements  for each of the past two  fiscal  years did not  contain  an adverse
opinion or disclaimer of opinion, nor were such reports qualified or modified as
to uncertainty, audit scope or accounting principles.

     During each of the  Partnership's  two most recent fiscal years and through
the date of this report,  there were: (i) no disagreements  with Arthur Andersen
on  any  matter  of  accounting  principle  or  practice,  financial  statements
disclosure,  or auditing  scope or  procedure  which,  if not resolved to Arthur
Andersen's satisfaction, would have caused them to make reference to the subject
matter  in  connection  with  their  report  on the  Partnership's  consolidated
financial statements for such years; and (ii) there were no reportable events as
defined in Item 304(a)(1)(v) of Regulation S-K.

     The  General  Partner  has  provided  Arthur  Andersen  with a copy  of the
foregoing  disclosures.  Attached  as Exhibit 16 is a copy of Arthur  Andersen's
letter dated May 10, 2002, stating its agreement with such statements.

Item 7.  Financial Statements and Exhibits.
- -------------------------------------------

(c)  Exhibits. The following exhibits are filed with this report:

Exhibit 16 - Letter from Arthur  Andersen  LLP to the  Securities  and  Exchange
Commission dated May 10, 2002.

Exhibit 99 - Press Release dated May 10, 2002.


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SIGNATURE

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.



                                       AMERICAN INSURED MORTGAGE
                                       INVESTORS

                                       By:  CRIIMI, Inc.
                                            General Partner


Dated: May 10, 2002                    /s/ William B. Dockser
                                       ----------------------
                                       William B. Dockser
                                       Chairman of the Board




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                                  EXHIBIT INDEX

Exhibit
No.                                Description
- --------------------------------------------------------------------------------

*16   Letter from Arthur  Andersen LLP to the Securities and Exchange Commission
      dated as of May 10, 2002.

*99.1 Press Release dated May 10, 2002

- ----------------
*Filed herewith.

EX-16

                                                                      EXHIBIT 16

May 10, 2002



Office of the Chief Accountant
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549




Dear Sir/Madam,

We have read the  paragraphs  in Item 4  included  in the Form 8-K dated May 10,
2002 of  American  Insured  Mortgage  Investors  filed with the  Securities  and
Exchange Commission and are in agreement with the statements contained therein.

Very truly yours,

/s/ ARTHUR ANDERSEN LLP




Copy to:
Ms. Cynthia O. Azzara, CFO and SVP, CRIIMI, Inc. as General Partner of
American Insured Mortgage Investors

EX-99

                                                                    EXHIBIT 99.1


         Contact: Susan B. Railey           FOR IMMEDIATE RELEASE
                  (301) 468-3120
                  Sharon Bramell
                  (301) 468-3161



                        AIM 84 Dismisses Arthur Andersen

                            ------------------------


         ROCKVILLE, MD, May 10, 2002- - (AMEX/AIA) The general partner of
American Insured Mortgage Investors (AIM 84) today announced the dismissal of
Arthur Andersen LLP as the Partnership's auditors.

         The General Partner is in the process of selecting new independent
public accountants and will announce its decision shortly.

         The CFO of the General Partner, Cynthia O. Azzara said, "We commend the
professionalism and dedication of Arthur Andersen during its years of service to
the partnership, and we thank the individuals who worked with us." Arthur
Andersen had served as AIM 84's independent public accountants since 1991.

         For further information on AIM 84, see the Partnership's Web site:
http://www.americaninsuredmortgage.com
- --------------------------------------