Former Cigna VP Picked To Run State Insurance Department

HARTFORD — Gov. Dannel P. Malloy on Friday nominated Katharine “Katie” L. Wade, a former Cigna Corp. clamp boss and daughter-in-law of a vital Democratic fundraiser, to be a state’s subsequent word commissioner.

Wade, 49, of Simsbury, would manage an group that regulates a word attention on all from a solvency of vast companies such as The Hartford Financial Services Group to a cost of health-insurance plans.

She is scheduled to start Tuesday as behaving commissioner, and she will be paid $160,000 annually, if her assignment is authorized legislators.

At Cigna, Wade oversaw supervision affairs for a association in all 50 states and before a executive and legislative branches of a sovereign government. She also supervised a doing of laws and regulations, including a Affordable Care Act, in Cigna’s product filings, regulatory reporting, marketplace control examinations and writer licensing.

Wade’s father-in-law, Hartford profession James A. Wade Jr., is a self-described “pal” and someday lunch messenger of Malloy who has been endangered during a top turn of Connecticut Democratic politics. Wade dynamic a domestic movement cabinet called Prosperity for Connecticut in 2011, Malloy’s initial year as governor, and Malloy has helped it to lift hundreds of thousands of dollars for a Democratic party, possibilities and causes. The administrator has served as orator during Wade’s fundraising events. Wade was tighten with Democratic Gov. William A. O’Neill in a 1980s.

James Wade is an profession during Robinson+Cole, a lobbying law organisation for a health word trade classification Connecticut Association of Health Plans.

When asked if he was endangered about any viewed impropriety in Wade’s appointment, given her attribute to James Wade, Malloy pronounced simply, “No.”

The commissioner’s position was left empty by Thomas B. Leonardi, who led a dialect for roughly 4 years and trafficked frequently abroad as an attention expert. Leonardi stepped down in December, holding a pursuit during Evercore Partners Inc., a New York-based tellurian investment banking advisory firm.

Since December, Deputy Insurance Commissioner Anne Melissa Dowling has served as behaving commissioner. Malloy pronounced Dowling was deliberate for a position.

When asked because Dowling wasn’t chosen, a administrator said: “I don’t disintegrate preference making. I’m not going to answer questions about any of a other possibilities we interviewed. we interviewed a series of possibilities personally, and we was really many privately endangered in this preference creation process. we consider that a behaving commissioner has finished an superb job, and we appreciate her for her service.”

Katharine Wade has served several positions with state and inhabitant trade organizations representing health insurers, according to her LinkedIn profile. Those positions embody being an officer in a Connecticut Association of Health Plans from 2005 to 2013; a state supervision family cabinet chair from 2006 to 2011 for America’s Health Insurance Plans, or AHIP; and a state supervision family cabinet clamp chair of AHIP in 2005.

“It’s an respect to offer a state of Connecticut,” Wade told reporters after Malloy introduced her. “Insurance provides critical protections and advantages for a citizens.”

She pronounced she will do her best to accommodate a department’s regulatory obligations ensuring that policyholders, both consumers and businesses, accept what they are promised.

Secondly, Wade pronounced she will manage a financial condition and marketplace practices of insurers headquartered and protected in a state.

Third, Wade pronounced she will keep Connecticut’s word law applicable in a tellurian economy by progressing a inhabitant and general regulatory profile.

“I demeanour brazen to operative in this administration, with a General Assembly, and policymakers, to strengthen consumers, and to yield a business meridian so insurers can welcome innovation, invent new products and services and grow Connecticut’s economy,” Wade said. “I’m really vehement to work with a gifted group of professionals during a Connecticut Insurance Department.”

Wade worked during Cigna from 1992 to 2013, according to her LinkedIn profile, and hold several positions, many recently clamp boss of Public Policy, Government Affairs and U.S. Compliance.

After Friday’s announcement, Cigna orator Joe Mondy pronounced in a created statement: “Katie Wade is a veteran with low believe of a word industry, that creates her uncommonly competent for this position. We wish her a best in this latest section of her career and we know she will offer a state of Connecticut well.”

Wade will manage a dialect of 159 employees and an annual check of $28 million. The state department’s check is saved exclusively by an comment on insurers formed on their reward revenue.

Her assignment contingency be authorized by a Executive and Legislative Nominations Committee, and afterwards it will have to be authorized by possibly a state House or a Senate depending on either her assignment becomes a House or a Senate bill, that is nonetheless to be determined, pronounced Malloy orator David Bednarz.

Copyright © 2015, Hartford Courant

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