NU Online News Service, July 28, 1:00 p.m. EDT
State insurance regulators told Congress today that they have heightened regulation of holding companies in the wake of problems experienced by American International Group.
Susan Voss, Iowa insurance commissioner and NAIC president, in testimony before the Insurance, Housing and Community Subcommittee of the House Financial Services, testifies that state regulators have ramped up regulation of insurance holding companies through what she terms an enhanced "windows and walls" approach. This is designed to allow regulators the ability to better assess the enterprise risk within a holding company system and its impact on an insurer within the group.
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