John Talley has been named acting chief of captive insurance at the New Jersey Department of Banking & Insurance.
Talley replaces Crosby Sherman who has recently accepted the role of deputy commissioner of the Vermont Department of Financial Regulation.
Prior to his promotion, Talley held the role of assistant chief of captive insurance.
Gregg Sgambati, president of the New Jersey Captive Insurance Association, said: “To use a human analogy, Sherman, with Talley’s help, slapped the New Jersey captive insurance industry to life and after a year or so of belly breaths it is now breathing from its chest.”
“It was clearly evident in Talley's speech at the ‘Exploring the Current Captive Insurance Landscape’ in Newport, New Jersey this week that he will be the right kind of leader for New Jersey captive regulation. One of our Strategic Advisory Board members characterised Talley as ‘smart as heck, [and having] unquestionable ethics’."
Sgambati added that he looks forward to seeing New Jersey captive insurance walking and running in the coming years.
