Posted: 10/6/2009

NAMIC MEDIA ADVISORY: Capitol Hill Press Briefing

WASHINGTON (October 6, 2009) - As Congress begins marking up financial services regulatory reform legislation, the National Association of Mutual Insurance Companies (NAMIC) will host a press briefing with economist Scott E. Harrington of the Wharton School of the University of Pennsylvania to discuss the financial crisis, AIG, and the future of insurance regulation on Oct. 13, 2009.

Harrington is the author of "The Financial Crisis, Systemic Risk, and the Future of Insurance Regulation," an issue analysis commissioned by NAMIC. In his paper, Harrington details the factors leading up to the worldwide financial collapse of September 2008, plainly explaining what was and wasn't to blame for the crisis. The analysis digs deep into the role of AIG and credit default swaps in bringing down the economy and the federal oversight that allowed it to happen. In addition, Harrington examines the concept of systemically significant or “too big to fail” institutions and the Obama Administration’s proposal for financial services regulatory reform.

WHO: Scott E. Harrington, Ph.D., Alan B. Miller Professor and Professor of Health Care Management and Insurance and Risk Management, Wharton School of the University of Pennsylvania

WHEN: Tuesday, Oct. 13, 8:30 a.m.

WHERE: Rayburn House Office Building, Room B-338

For further information, contact
Matt Brady
Director of Media Relations
(202) 580-6742 Tel
mbrady@namic.org