New York - Eliot Spitzer of New York nominated Eric Dinallo, General Counsel of Willis Group Holdings, to serve as New York State Insurance Superintendent in the new administration.Dinallo, 43, will replace Howard Mills, who was appointed in 2004 by Republican Governor George Pataki. In 2003 Dinallo resigned as chief of Spitzer's Investment Protection Bureau to become head of regulatory matters for Morgan Stanley, and was hired as general counsel for insurance broker Willis Group Holdings Ltd. in March.
"During Eric's wide-ranging career in both the public and private sector, he has demonstrated the ability to cut through complex legal and regulatory issues and pursue a principle-based approach that promotes transparency and fair play," says Joe Plumeri, chairman and CEO of Willis. "There is near-universal agreement that the regulation of the insurance industry needs reform and Eric is well-suited given his time with Willis and previously with Morgan Stanley to oversee this effort in New York."
Plumeri goes on to say: "Over the past year, Eric has brought a meaningful perspective and has made a significant contribution to our corporate governance efforts as well as to how we embrace risk-based assessments and the changing paradigm of insurance regulation."
According to Bloomberg L.P., the superintendent oversees an office of more than 900 employees, making sure insurers that operate in New York comply with the law.
Sources: Bloomberg L.P. and Business Wire
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access