Wall Street Journal
Scism, Leslie; Holm, Erik
National Association of Insurance Commissioners (NAIC) President Jim Donelon is unsure about the need for a nationwide halt on approvals for captive insurance deals. In a report, New York State Department of Financial Services Superintendent Benjamin Lawsky notes that the transactions hide risk, but Donelon states that NAIC members already have a group that assesses captives and that state regulators advocate improved transparency on the deals. Donelon said during a conference call Thursday that he didn’t see an “obvious need for such a moratorium notwithstanding the pronouncements out of New York.” Read Story (Subscription Required)