Connecticut insurance commissioner steps down

Katharine Wade will step down from her role as Connecticut insurance commissioner, effective 19 December 2018.

Life and Health director Paul Lombardo will serve as acting commissioner until a new commissioner is appointed by incoming Governor-elect Ned Lamont.

Wade has spent nearly four years in the role, having been appointed in March 2015.

Prior to taking the role, Wade spent 21 years at Cigna, most recently in the role of vice president of public policy, government affairs and US compliance.

Connecticut governor Dan Malloy thanked Wade for her “honourable service” and said he was proud to call her both a colleague and a friend.

He commented: “As home to the ‘insurance capital of the world’, Connecticut needs a world-class insurance regulatory agency and under commissioner Katharine Wade’s leadership, that’s just what we have.”

“Building upon our existing assets, she strengthened consumer protection creating better network standards for health insurance, expanding choice in the marketplace, and increasing consumer education and outreach.”

Malloy continued: “Her endeavors and accomplishments helped to solidify the state’s standing as an important voice regarding insurance regulatory matters on the national and international stage.”

“During her tenure, Wade championed Connecticut as a center of excellence for innovation and InsurTech highlighting the state’s deep pool of insurance industry and tech talent.”