- The Washington Times - Friday, April 17, 2009

ALBANY, N.Y. (AP) - The New York state Insurance Department says Allstate Corp. must report any of its participation in unregulated insurance markets.

The agency also says Allstate officials must report anything they know about other insurance companies that conducted unregulated writing of credit default swaps _ a form of insurance against loan defaults.

The agency sought the information Friday in response to Thursday’s New York Times, where Allstate Chief Executive Tom Wilson wrote an op-ed column saying the company only played a small role in unregulated insurance markets.

Insurance Superintendent Eric Dinallo says it’s illegal in New York and other states for an insurance company to write a credit default swap unless the state insurance regulator approves it.

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