The National Association of Insurance Commissioners has come under fire from a non-profit think tank for its contention that the problems of American International Group are an argument against federal insurance regulation.

Criticism of the NAIC position came in a paper issued by the Washington-based Competitive Enterprise Institute, a group that takes no federal funding, but has backing from foundations and industry.

Asked if any insurance entities funded its operation, CEI said by e-mail that it does not discuss specific donors. It does not do contract work.

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