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Article: More regulations could arise out of AIG's complications.(NEWS)
- Article from:
- Business Insurance
- Article date:
- September 21, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JUDY GREENWALD
American International Group Inc.'s travails could lead to more regulation of the holding companies of commercial property/casualty insurers, observers say about the possible effects of its troubles on others in the market.
While state insurance regulators have done a praiseworthy job of guarding AIG policyholders' security, observers say the state officials were neither authorized nor equipped to handle its noninsurance operations, notably AIG Financial Products Corp.'s exposure in the credit default swap market.
Meanwhile, some observers say they believe AIG's bailout by the federal government increased price ...