Governor Dannel Malloy has selected Katharine Wade to be Connecticut's next insurance commissioner. Wade has over 20 years experience in the insurance industry, most recently as Cigna's Vice President of Public Policy, Government Affairs and U.S. Compliance.
Malloy told reporters he was looking for a partner committed to holding off what he described as European influence on U.S. insurance industry regulations. "In selecting Katie, I selected someone who I thought had the appropriate level of experience with respect to regulatory matters, as well as a state by state understanding of the industry," said Malloy.
Wade said one of the first challenges of her new position will be ensuring cyber attacks, like the recent data breach that affected millions of Anthem customers, is a thing of the past.
"We need to make sure that consumers are protected, but we also need to make sure that the standards that we are imposing on the industry are making sure that we are able to take advantage of what the state of the art is today, and what the state of the art is in the future," Wade said.
Wade is the daughter-in-law of Hartford attorney and Democratic fundraiser James Wade. She takes over for interim insurance commissioner Ann Dowling, who stepped in late last year following the departure of Commissioner Thomas Leonardi.
Wade's first day as commissioner is Tuesday, March 24.
