It is a telling indication of the new visibility of insurance (and insurance regulators) in recent months that the post of Superintendent of Insurance in New York can be used as a creditable launching pad for a run at higher office.

This is indeed the case for Eric Dinallo, who last month vacated the post and has now confirmed that he intends to run for Attorney General of New York. While Dinallo’s future prospects remain uncertain, his performance as the state’s top insurance regulator during a time of unprecedented turmoil can be properly assessed. Dinallo played a key role in the federal rescue of New York-based American International Group Inc., and also had a hand in bolstering the bond insurance market after woes beset New York domiciled financial guarantee insurers MBIA Inc. and Ambac Financial Group Inc.

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