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Life Health > Life Insurance

Illinois Department Loses 53 Employees

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NU Online News Service, Jan. 31, 2:59 p.m. – Nathaniel Shapo, the former director of the Illinois Insurance Department, is not the only official who is leaving the Illinois department.

Fifty-three of the department’s 383 employees have decided to retire. The exodus includes seasoned regulatory veterans.

Arnold Dutcher, the acting insurance director, says the attrition was spread pretty evenly across most of the department. The exception was the financial examination unit, which saw greater attrition.

The financial examination unit will now have one chief examiner for both life and health and property-casualty insurers, Dutcher says.

Having a single chief examiner will lead to “justified streamlining,” consistency and the creation of holding companies with both life and p-c affiliates, Dutcher says.

The vacant spots cannot be filled until Illinois Gov. Rod Blagojevich lifts a hiring freeze he instituted when he came into office, Dutcher says.

Dutcher says it is too early to say how, or if, the new Democratic control of the state government will affect insurance bills that are introduced.


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