Dinallo-2.JPGIn his second bold regulatory proposal this month, New York Insurance Superintendent Eric Dinallo has again challenged the inertia paralyzing the nation’s regulatory scene by pitching a plan to jettison the automatic 100 percent collateral requirement slapped on all foreign reinsurers. Instead, he is proposing a far less discriminatory plan based on a carrier’s financial strength, as determined by at least two rating agencies. The knee-jerk reaction by some U.S. parties has been to blast the idea as “radical” and “potentially very risky,” but I think it’s about time somebody acted to crack the ice and speed up the glacial pace on long overdue reform of this archaic restriction set by regulators nationwide.

To read more details about Mr. Dinallo’s plan, click here and here.

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