New York Insurance Superintendent Eric Dinallo will oversee a National Association of Insurance Commissioners task force created to expedite the approval of sales of American International Group assets.
Creation of the task force was approved by commissioners in a 5 p.m. conference call Tuesday afternoon, as federal and state regulators worked with the Treasury Department to design a solution to AIG's liquidity crisis, according to David Neustadt, an insurance department spokesman.
The move implied that prompt action to sell AIG assets and pay off a government bridge loan secured late yesterday is necessary to get the best value for the government and shareholders.
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