NY Sees Possible Consumer Risk In Life Insurance Captives

Law360, New York (August 6, 2012, 5:14 PM EDT) -- A New York financial regulator's demand for details about life insurance industry efforts to mitigate policy risk through subsidiaries known as captives suggests the state is concerned that the increasingly complex arrangements could pose risk to policyholders, experts said Monday.

The state's Department of Financial Services has asked for information from dozens of life insurers domiciled in New York — including giants like Metropolitan Life Insurance Co., New York Life Insurance Co. and AXA Equitable Life Insurance Co. — about how the so-called captives are being...
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