CEOs Must Take Oath On Reinsurance Industry group challenges practicality of new superintendents order
New York Acting Insurance Superintendent Howard Mills announced last week that insurance company chief executives will have to swear that their accounting for reinsurance deals is proper.
His action was questioned by the Insurance Information Institute, an industry-sponsored group, which suggested the rule might be an impractical requirement. But Mr. Mills stuck to his guns, contending that if companies have a problem with the new rule, then they may have internal problems they need to address.
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