Connecticut Governor Dannel P. Malloy today announced that he is nominating Katharine L. Wade to serve as commissioner of the Connecticut Insurance Department.
Wade succeeds Thomas B. Leonardi who stepped down from the post to join New York investment banking advisory firm Evercore Partners in December.
Wade has over 20 years of experience in the insurance sector, having served with the Cigna Corporation beginning in 1992. Most recently, she served as the company’s vice president of public policy, government affairs and U.S. compliance, where she was responsible for leading a team to coordinate all federal and state legislative and regulatory affairs, public policy, and compliance operations for health, group life, and disability businesses.
While with Cigna, Wade oversaw all work before executive and legislative branches in the federal government, as well as those in all 50 states. She helped oversee the implementation of laws and regulations, including the Patient Protection and Affordable Care Act (PPACA), product filings, regulatory reporting, market conduct examinations, and producer licensing.
In addition to her service with the company’s government affairs and compliance functions, she also served for four years as its director of health policy, a role in which she was responsible for the development of company public policy strategy on key market and legislative/regulatory issues and third party outreach, and assisted senior management in generating appropriate changes in business strategy and practices.
Wade will begin her role as commissioner on March 24.
“Katie’s experience in the insurance industry and her familiarity with the federal government and state governments around the nation will be a benefit in our efforts to protect consumers and help the industry grow here in Connecticut,” said Governor Malloy.
“I would like to thank Governor Malloy and Lt. Governor Wyman for the appointment as Insurance Commissioner. It is a great honor to serve the State of Connecticut,” said Wade.
“My primary focus will be to protect insurance policyholders by overseeing the financial condition and market practices of licensed insurers,” she added. “Because of the importance of the insurance industry to the state, national, and global economies, I also will ensure that Connecticut maintains an appropriate and relevant national and international regulatory profile.”
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