2008 Financial Crisis - Insurance Regulators
- Joel Ario - Pennsylvania Insurance Commissioner
- Eric Dinallo - New York - Insurance Commissioner
- Hampton Finer
- Michael Moriarty
- Michael McRaith - Illinois Insurance Commissioner / Later FIO Director
- Sandy Praeger - Kansas Insurance Commissioner / NAIC President
- Doug Slape - Texas Insurance Department
- Terri Vaughan - NAIC CEO, Iowa
- NAIC – Government
- 2008 1006 - NAIC to GOV Letter - Praeger, Waxman, Davis - [link to NAIC Page - 4p]
- (p1-2)The problems stem from the operations of AIG’s holding company, its financial products division, and its securities lending division, regulated at the Federal level by the Office of Thrift Supervision (OTS).
- 2009 0227 - NAIC to FRBNY - Letter from the National Association of Insurance Commissioners to Thomas C. Baxter - 2p
- AIG's securities-lender clients flooded the program for their collateral, creating a "mini-run" on the bank, says Doug Slape, chief financial analyst of the Texas Department of Insurance.
- The company began drawing down on the Fed loan commitment to cover the collateral requests, it told Mr. Slape in recent conversations, he said.
- By Oct. 3, Moody's Investors Service said AIG's default-insurance and securities-lending program had experienced "substantial losses and write-downs" due to mortgage securities.
- The Texas regulator grew concerned about the exposure in 2007.
- At the time, AIG told Texas it recognized that it needed to retain more cash, Mr. Slape said.
2008 1008 - WSJ - AIG Increases Borrowings While Racing to Sell Assets, By , and - [link]