Insurance Sifis face bank-style supervisory regime

A suitable ploy?

gideon-pell-2011

American International Group (AIG) has a lot to answer for – including, perhaps, forcing some of its peers into a new, tougher regulatory environment. The insurer’s bail-out in September 2008 prompted the Dodd-Frank Act to demand that systemically important non-banks be subject to the oversight of the Federal Reserve Board. Prior to its collapse, the unit of AIG responsible for incurring its losses had been regulated by the now-defunct Office of Thrift Supervision.

Insurers and other large non

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