New York: Dinallo Confirmed as Superintendent

The New York Senate last week confirmed Eric R. Dinallo as superintendent of the New York Insurance Department.

In a prepared statement, Dinallo noted the need to strike an appropriate balance in approaching regulation. He said that under his leadership, the department would “strive to ensure that consumers, both individuals and businesses, are fully informed, have access to the insurance products they need at reasonable prices and are treated fairly in the claims process” while also working “equally hard to ensure there is a favorable climate in New York for the insurance industry to prosper and grow, including a level playing field.” He added that the department would “strive to regulate in innovative and efficient ways.”

Dinallo had been serving as acting superintendent since January 2007. Paul Tetrault, NAMIC’s Northeast state affairs manager, noted that since the appointment, Dinallo has demonstrated an eagerness to quickly engage in critical issues. “From early impressions, Superintendent Dinallo can be expected to bring a new level of intellectual energy to regulation,” Tetrault commented. “It is apparent that he is interested in exploring better ways to approach the regulation of insurance.”

Dinallo joined the department from Willis Group Holdings, where he served as general counsel for the company. His responsibilities at Willis included supervising general counsels, global compliance, and the internal audit department, as well as implementing corporate strategies, policies and procedures to ensure the effective management of regulatory, and litigation matters.

From 2003 to 2006, Dinallo was the managing director, global head of regulatory affairs for Morgan Stanley, where he designed and led top-to-bottom reviews of conflicts and business practices. He served at the office of Attorney General Eliot Spitzer from 1999 to 2003, where he led investigations into cases involving conflicts of interest in the financial services industry, including research analyst cases and the spinning of initial public offerings.

Before joining the Attorney General’s Office, Dinallo served as an Assistant District Attorney in the New York County District Attorney’s office from 1995 to 1999. From 1991 to 1995, he was a litigation associate with the Manhattan law firm of Paul, Weiss, Rifkin, Wharton & Garrison.

A 1985 graduate of Vassar College with a bachelor’s degree in philosophy, Dinallo earned a master’s degree in public policy from Duke University in 1987. In 1990, he earned his law degree from New York University, and from 1990 to 1991, he clerked with Judge David M. Ebel of the United States Court of Appeals, Tenth Circuit in Denver.

“I am honored to have been confirmed as superintendent of the Insurance Department. I thank Governor Spitzer for nominating me and the Senate for its unanimous vote,” Dinallo said in a prepared statement. “I am proud to join the excellent staff of the premier state insurance regulator.”

Direct questions to NAMIC State Affairs Manager Paul Tetrault.

Posted: Tuesday, April 24, 2007 12:00:00 AM. Modified: Tuesday, April 24, 2007 10:16:44 AM.

Salary Survey: Data by Size, Region, and More

(317) 875-5250 - Indianapolis | (202) 628-1558 - Washington, D.C.

Contact NAMIC | Press | Advertise | Sponsor

We are 1,400 property/casualty insurance companies serving more than 135 million auto, home and business policyholders, with more than $196 billion in premiums accounting for 50 percent of the automobile/homeowners market and 31 percent of the business insurance market. We are the largest and most diverse property/casualty trade association in the country, with regional and local mutual insurance companies on main streets across America joining many of the country’s largest national insurers who also call NAMIC their home. More than 200,000 people are employed by NAMIC members.