New York regulators will be looking at insurers’ securities lending programs, according to David Neustadt, a spokesman for the New York State Insurance Department.
It is likely that other states also will be reviewing the practice of life insurers lending their securities to third parties, according to Joel Ario, Pennsylvania insurance commissioner.
Both New York and Pennsylvania are members of the AIG Special Task Force at the National Association of Insurance Commissioners, Kansas City, Mo.
During the recent fall NAIC meeting in September, regulators discussed a request that New York sent asking insurers about their securities lending programs.