NU Online News Service
SEATTLE--Looking to avoid a repeat of the problems that nearly took down American International Group, a regulator said insurance commissioners are looking to state legislators to provide authority to obtain information about a holding company's non-insurance entities.
Citing the fall of American International Group, Ann Frohman, director of the Nebraska Department of Insurance, said that while regulators are not seeking to regulate those non-insurance assets, they do need to be in a position to collect the information and make some determination if those assets can adversely affect the insurance entities.
This would then allow regulators to "have a discussion" about those assets with the holding companies in an effort to avoid the AIG debacle, Director Frohman said.
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