Lessons Learned: Eric Dinallo

Maryann Haggerty ()
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Maryann Haggerty: YPFS, Yale School of Management, https://elischolar.library.yale.edu/journal-of-financial-crises/

Journal of Financial Crises, 2021, vol. 3, issue 1, 504-508

Abstract: Eric Dinallo was New York State Superintendent of Insurance from January 2007 through July 2009. In New York, as throughout the United States, insurance companies are regulated at the state level. In his position as Superintendent, Dinallo oversaw the insurance operating companies of American International Group (AIG) within New York. AIG's holding company, however, was supervised at the federal level. Much of AIG's problems came from its non-insurance subsidiary AIG Financial Products (AIGFP), which was a major presence in the market for credit default swaps (CDS), a type of derivative that was a factor behind the 2007-09 financial crisis. This "Lesson Learned" is based on an interview with Mr. Dinallo.

Keywords: American International Group (AIG); reserve requirements; derivatives; AIG Financial Products (AIGFP); National Association of Insurance Commissioners (NAIC); insurance regulators; statutory accounting principles (SAP); securities lending (search for similar items in EconPapers)
JEL-codes: G01 G28 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ysm:ypfsfc:311616

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