N.Y.'s Serio Leaving Insurance Office

Mike Barry, director of public affairs for the New York State Insurance Department said Mr. Mills has no private sector experience within the insurance industry, having worked in higher education outside of politics.

Mr. Mills’ qualification for the position, Mr. Barry noted, stems from his tenure on the Assembly insurance committee and his knowledge of how the system works, which would help in the shaping of future insurance legislation.

The future insurance superintendent lost his Assembly post after he decided to make a run for the U.S. Senate against incumbent Democrat Charles E. Schumer, who beat him handily.

Mr. Barry said the Pataki administration expects Mr. Mills to be confirmed quickly by the Republican controlled state Senate, which is scheduled to meet Jan. 5.

Commenting on his departure, National Association of Insurance Commissioners President Diane Koken, who is also Pennsylvania’s insurance commissioner said the NAIC “will miss his dedication and leadership. I personally will miss his friendship and support. I’m sure he will excel in his new endeavor and I can’t wish anything but a great deal of success. It is difficult to be an insurance superintendent in a state as complex as New York and I think he has done a great job.”

When asked about what position Mr. Serio will be taking in the private sector, Mr. Barry said it would be announced at an appropriate time in the future. He added that the position was offered to him and that there was political motivation behind the departure.