One question left unanswered in the mad rush to keep the economy from sinking into oblivion is whether AIGs federal bailout unfairly skewed the playing field against its competitors.
Indeed, has anyone in Washington thought about the long-term market impact of having a major carrier backed by seemingly unlimited taxpayer funds? And is it fair to pit a federally-backed AIG against competitors that didn't gamble their futures on toxic securities and credit default swaps based on reckless subprime loans?
At least one insurance organization is sounding the alarm. As reported by our own Dave Postal and Matt Brady in Washington, the American Insurance Association tried to press the issue with a letter to Congress. (Click here to read the complete story.)
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
