New York Gov. David A. Paterson said he will push to revive the defunct New York Insurance Exchange to help "maintain New York's status as the financial capital of the world."
In his "State of the State" address last week, he added that the exchange–which would work as a syndicated, subscription market just like Lloyd's of London–would stimulate the economy by increasing the flow of capital and insurance premiums to New York.
He also promised increased transparency and security for all in the process.
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