By David Dankwa, Senior ReporterThe Financial Stability Oversight Council’s decision to designate American International Group and Prudential Financial as systemically significant, making them the first non-bank financial firms to come a step closer to being federally regulated, is sending jitters through the insurance industry.For more than 150 years, insurers have been regulated by state insurance commissioners, a status quo that industry leaders have been fighting to maintain. But passage of the Dodd-Frank Act gave FSOC the power to designate firms as significantly important financial...
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