2604 - New York Law - False Statements as to Insurers
- 2009 0517 - Insider - Was AIG Cooked Long Before Joe Cassano?, by Joe Weisenthal - [link]
- ... slowly hints at the idea that Cassano is really a fall guy.
- In 2001, when independent analysts working for The Economist magazine questioned the company's rich valuation, they were met with legal threats from the company.
- dfs.ny.gov/industry_guidance/ins_regs_by_part_number
- 2604 - CHAPTER 28, ARTICLE 26, Section 2694 - False statements as to insurers, New York Consolidated Laws, Insurance Law - [link]
- § 2604. False statements as to insurers.
- No person shall either
- (i) wilfully make, circulate or transmit to another any statement written, printed or by word of mouth, which is untrue in fact and is directly or by inference derogatory to the financial condition, or affects the solvency or financial standing, of any insurer doing business in this state, or
- (ii) knowingly counsel, aid, procure or induce another to start, transmit or circulate any such statement.
- 2021 0225 - YPFS Lessons Learned Oral History Project: An Interview with Eric Dinallo --- [BonkNote] --- 19p
- (p4) - Which is, even if I had caught it and demanded that we fix it, the amount of political energy that would have been leveled against me would be inconceivable. ...Until the crisis happened.
- (p6) - I wrote an op-ed for the [Financial Times] that lays out that there's a law, that [hedge fund manager] Bill Ackman and I argued about.
- About not disparaging or questioning the solvency of an insurance company.
- You can short the stock all day, and you can go out there and trash MBIA stock all day.
- ⇒ But when you start to question its solvency, that's actually against the law.
- 2008 0731- FT (Financial Times) - Tackle False Rumours About Insurance Companies, by Eric Dinallo, New York Insurance Commissioner -
- [BonkNote: §2604 - New York Law - False Statements as to Insurers]