NU Online News Service, May 25, 3:10 p.m. EDT
Insurers are strongly objecting to a proposed regulation that would require officials of an insurance company being liquidated by Federal Deposit Insurance Corp. (FDIC) to prove that they were not responsible for the company's failure and therefore liable for damages.
Instead, officials of the American Insurance Association (AIA) say in a comment letter to the FDIC that a lower, state-based standard should be used to determine responsibility.
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