SEC Targets Assurant Execs In Reinsurance Probe

Law360, New York (July 5, 2007, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has stepped up its inquiry into insurance company Assurant Inc. as part of its ongoing investigation into the use of finite reinsurance, the company said Thursday.

Assurant revealed that two executives in its specialty property division, Chief Actuary Michael Steinman and Vice President of Risk Management Dan Folse, have each received a Wells notice from the SEC’s Division of Enforcement. The SEC told Steinman and Folse that they were being investigated as part of its examination of “certain loss mitigation...
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