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Dinallo Tells Congress Insurers Don't Need U.S. Regulation

New York's insurance regulator told a congressional oversight hearing today that it "would be a broad misunderstanding, bordering on inappropriate," to view the American International Group liquidity

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New York’s insurance regulator told a congressional oversight hearing today that it “would be a broad misunderstanding, bordering on inappropriate,” to view the American International Group liquidity problems as an argument for federal regulation.

Eric Dinallo, New York insurance superintendent, made his comment at a House Committee on Oversight and Government Reform hearing on the events leading to the government bailout of AIG.

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