Dinallo Resigns

May 27, 2009 at 08:00 PM

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New York Insurance Department Superintendent Eric Dinallo is resigning to take an academic post, Gov. David Paterson announced today.

Dinallo will give up his current title July 3 and become the Henry Kaufman visiting professor of finance at New York University's Stern School of Business.

"Since January, 2007, when he was appointed as superintendent of the New York State Insurance Department, Eric Dinallo has been a stalwart advocate for New Yorkers, a trusted advisor to me and my administration and a committed public servant," Paterson, D, says in an announcement of Dinallo's departure.

"I appreciate the opportunity to have worked with Governor Paterson for the betterment of our state and our economy, and to have helped foster an insurance system that works fairly for all," Dinallo says in a statement that accompanies Paterson's statement. "It has also been a true privilege to work with the talented and dedicated staff of the New York State Insurance Department, the best insurance regulators in the world, and I know that they will continue their tremendous efforts on behalf of our fellow New Yorkers."

Dinallo, who earned a law degree at NYU in 1990, has been a highly active superintendent, appearing on news channels such as CNBC and testifying before Congress at hearings on topics such as the problems at American International Group Inc., New York, and efforts to change the insurance regulatory system.

Some have suggested that Dinallo could end up running to become New York's attorney general.

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