New York Insurance Superintendent Eric Dinallo said he has begun an inquiry into whether Allstate Corporation engaged in illegal participation in unregulated insurance markets, after the insurer's chief executive wrote an opinion piece calling for federal regulation.
Mr. Dinallo said he wrote the personal lines insurer asking for details on all of its participation in "unregulated insurance markets," referring to a comment in the opinion piece that Allstate CEO Tom Wilson penned for The New York Times.
The superintendent also asked the Northbrook, Ill.-based insurer for information about its knowledge of any insurance companies that conducted unregulated writing of credit default swaps.
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