Former New York Insurance Chief Dinallo to Run for Attorney General

August 25, 2009

Dinallo, former New York superintendent of insurance, said Monday that he is gearing up for a possible election effort to be the state’s next attorney general.

“I recently filed papers with the New York State Board of Elections to form a campaign committee,” Dinallo said in an email to reporters. “My intent is to enter the race to succeed Andrew Cuomo as New York’s next attorney general in the event that he decides not to seek reelection.”

Cuomo has not officially announced his interest in a run for governor, but his lead over current New York Governor David Paterson has continued to climb in polls.

Dinallo stepped down as the state’s insurance regulator last month. He was formerly a top aide to former Democratic Governor Eliot Spitzer, when Spitzer was state attorney general.

Speculation that Dinallo would run for the attorney general post swirled after he announced his plans to resign from the insurance post. At the time he was quiet on those plans and said he would become a visiting finance professor at New York University’s Stern School of Business.

Dinallo made a name for himself under Spitzer, and built on his reputation at the New York insurance department, playing a pivotal role in the federal rescue of American International Group Inc , and in resolving some of the credit crisis issues that beset bond insurers such as MBIA Inc and Ambac Financial.

(Reporting by Lilla Zuill; Editing by Tim Dobbyn)

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