The new development is spelled out in a lawsuit AIG filed Friday in the New York State Supreme Court in Manhattan.
Obama signed expansion into law over the weekend; Sandy claims cited as cause for concern.
Legislation increases borrowing authority by one third, draws Republican ire and promises to take NFIP private.
NFIP will likely need to go to Congress for additional borrowing authority to pay claims, insurance industry officials say.
Analyst says recent action by the Fed regarding MetLife and its bank implies the Fed may be rethinking the use of bank metrics.
The Financial Stability Oversight Council has started the clock on a six-month process for designating a non-bank as systemically significant.
Financial Stability Oversight Council was created to ensure systemic financial risks are quickly identified. GAO says more transparency needed to accomplish that.
American International Group is on the verge of becoming the first insurance holding company ever regulated by the Federal government.
On pace to far exceed this year the number of fines and disciplinary actions against financial advisers it imposed last year.
Insurers that operate thrifts would be subject to the same capital standards at the holding-company level as banks, according to proposed new rules.