NEW YORK--Warren Buffet's entrance into the bond insurancesector may have distressed some domestic New York bond insurers,but the benefits to the overall marketplace outweigh the drawbacks,New York's top insurance regulator said.
Insurance Superintendent Eric Dinallo made his comments Saturdayat the National Conference of Insurance Legislators meetinghere.
Mr. Dinallo was asked during a Q&A session if allowingBerkshire's startup company "to cherry pick the good business"caused further problems for the existing struggling bondinsurers.
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