New York Insurance Superintendent Eric Dinallo crossed the Hudson to visit with NU's editors in our Hoboken office this past Monday to lay out his vision for supervising this industry as well as modernizing the broader financial services sector. You can read all about it by clicking here. However, the new commish also set me straight about his role–and that of his former and current boss, Gov. Eliot Spitzer–in settling $2 billion in leftover World Trade Center claims.
In my blog entry of May 23, headlined “Spitzer Does It Again,” I speculated that the governor “apparently knocked some heads together” among the seven insuers involved and their policyholder–Silverstein Properties–to get a deal done.
A statement from Gov. Spitzer's office reported that “when several outstanding issues remained unresolved, Gov. Spitzer became personally engaged in the negotiations.” To which I added: “That's when the head-knocking began. You don't want to mess with Eliot Spitzer.”
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