New York Insurance Superintendent Eric Dinallo believes his new proposed rule on collateral requirements–his second bold regulatory initiative in a month–is good for regulators and the insurance industry.
“Sometimes it's good for one state to put a stake in the ground and take a position and say, 'let's discuss this,'” he said.
Mr. Dinallo was interviewed after his announcement Thursday that he planned to do away with collateral requirements for foreign reinsurers with good financial ratings.
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