Allstate Op-Ed Sparks Probe From NY Insurance Head

By Morgan Bettex

Law360, New York (April 17, 2009, 12:00 AM ET) -- New York Insurance Superintendent Eric Dinallo has launched a probe into Allstate Corp.'s business in unregulated credit derivatives markets, in response to an opinion column the insurer's CEO published suggesting the company had been involved in such markets.

In a letter sent Thursday, attorneys from New York's insurance department asked Allstate to immediately report its participation in unregulated insurance markets, as well as its knowledge of other insurance companies that conducted unregulated writing of credit default swaps, after the New York Times published a column Thursday...
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