New York's top insurance regulator yesterday said he hopes to have a new set of regulations written for bond insurers by the middle of this year, which would further define the types of policies they can and cannot write.

Speaking at a Crain's New York Business breakfast yesterday, New York insurance superintendent Eric Dinallo told the audience that he thinks the financial guaranty companies overstepped when they began to write policies on collateralized debt obligations and credit default swaps.

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