Connecticut Senate Confirms Wade as New Insurance Commissioner
April 21, 2015 by Thomas Harman, associate editor, BestWeek: Tom.Harman@ambest.com
HARTFORD, Conn. – Katharine Wade, a former Cigna Corp. executive, has been unanimously confirmed as Connecticut’s new insurance commissioner by the state Senate. Wade has been working at the post since March 24, but needed confirmation by either the Senate or the House.
Wade had worked with Cigna in 1992, ultimately becoming the corporation’s vice president of public policy, government affairs and U.S. compliance. She was responsible for leading a team that coordinated all federal and state legislative and regulatory affairs, public policy and compliance operations for health, group life and disability businesses, according to a statement from Gov. Dannel Malloy’s office.
Wade’s office was unavailable for comment after the confirmation. But when she was nominated by Malloy, Wade said her primary focus would be to oversee the financial condition and market practices of licensed insurers, in an attempt to protect insurance policyholders. “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,” she said (Best’s News Service, March 20, 2015).
Wade succeeds former Commissioner Thomas Leonardi, who resigned effective Dec. 11 after four years on the job to join Evercore Partners Inc., a New York-based independent investment banking advisory firm (Best’s News Service, Nov. 19, 2014).
