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New York state Insurance Superintendent Eric Dinallo will resign effective July 3 and become a visiting finance professor at New York University's Stern School of Business, Governor David Paterson said Thursday.
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NY State Eric Dinallo |
Dinallo was the most prominent state insurance regulator in the nation due to New York's position as a financial capital.
The Democratic governor saluted Dinallo for overseeing the state's response to the global credit crisis and the near-capsizing of bond insurers and insurance giant American International Group [AIG
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"Under Superintendent Dinallo's leadership, the Department effectuated the largest regulatory settlement in the U.S., played an integral part in the reform of the workers' compensation system and facilitated more than $15 billion in new capital for the bond insurance industry," Paterson said in a statement.
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