NU Online News Service, Dec. 20 2:47 p.m. EST
The three trade groups representing the majority of property and casualty insurers reiterate in a letter to the Financial Stability Oversight Council that property and casualty insurance carriers by their very nature do not pose a threat to the financial stability of the U.S.
The letters, by the American Insurance Association, the National Association of Mutual Insurance Companies and the Property Casualty Insurers Association of America, laud the FSOC for its revised proposal regarding the metrics it will use in determining whether a non-bank constitutes a systemic risk to the system.
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