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Empire State Gets Interim Chief, Publishes Regulatory Plans

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Louis Pietroluongo will be the acting superintendent of the New York State Insurance Department until Eric Dinallo, the nominee for the permanent post, joins the department.

Pietroluongo has been the department’s first deputy superintendent and chief operating officer since 2002.

Pietroluongo began working for the department in 1998, after serving for 32 years with the New York City Police Department. When Pietroluongo left the department, he held the rank of deputy chief.

Howard Mills, the previous permanent superintendent, resigned at the end of 2006. Mills was appointed to the superintendent post by former New York Gov. George Pataki, a Republican.

The new New York governor, Eliot Spitzer, is a Democrat who organized highly visible investigations of insurers and brokers.

Pietroluongo has a bachelor’s degree in political science from Brooklyn College, and he also is a graduate of the New York City Police Management Institute at Columbia University.

In other New York department news, regulators have published their 2007 regulatory agenda.

One item calls for the department to set requirements for health insurance policies that use a “usual and customary” or “reasonable” form of reimbursement.

The department staff members also want to update producer compensation rules for the individual and small group health insurance programs; set minimum standards for non-guaranteed elements in life and annuity contracts; provide for “exceptional treatment” for private-placement variable products; and create reserve standards for individual separate account products with guaranteed benefits.

A copy of the agenda is on the Web at Document Link


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