Calif. Sends Examiner To Oversee AIG Restructuring

Law360, New York (June 17, 2009, 12:00 AM EDT) -- California's insurance commissioner has decided to appoint a special examiner to represent the state's interests in American International Group Inc.'s insurance operations as the company goes through its restructuring process in New York.

Insurance Commissioner Steve Poizner said Tuesday that the state would send a special examiner to work with insurance regulators from New York, Massachusetts, Texas and Delaware, where the bulk of AIG's insurance units have their headquarters.

Though insurance companies are usually subject to regulators mainly in their home bases, the commissioner noted that...
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