We have an antiquated system for regulating insurance products and companies in the United States and that has contributed to our current economic debacle.
They are regulated by the various state insurance commissioners. AIG and those of its insurance companies incorporated in New York state are regulated by the New York insurance commissioner. AIG avoided any regulation of its credit default swaps CDSs by the simple slight of hand of calling them “swaps” rather than “insurance policies,” and no one called them to account for doing so.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
