NEW YORK--Warren Buffet's entrance into the bond insurance sector may have distressed some domestic New York bond insurers, but the benefits to the overall marketplace outweigh the drawbacks, New York's top insurance regulator said.
Insurance Superintendent Eric Dinallo made his comments Saturday at the National Conference of Insurance Legislators meeting here.
Mr. Dinallo was asked during a Q&A session if allowing Berkshire's startup company "to cherry pick the good business" caused further problems for the existing struggling bond insurers.
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