New York Insurance Superintendent Eric Dinallo will resign his position
on July 3 to take a teaching post at New York University, Gov. David
Paterson announced this afternoon. Paterson said Dinallo will become the Henry Kaufman Visiting Professor
of Finance at New York University's Stern School of Business.
Some have speculated that Dinallo intends to run for the state attorney
general's post if current Attorney General Andrew Cuomo decides to seek
another post, according to press reports.
In a press release, Paterson called Dinallo – who was appointed by
former Gov. Eliot Spitzer – a "stalwart advocate for New Yorkers" and a
"Under Superintendent Dinallo's leadership, the department effectuated
the largest regulatory settlement in the U.S., played an integral part
in the reform of the workers' compensation system and facilitated more
than $15 billion in new capital for the bond insurance industry,"
"Eric has earned a reputation as a national leader in the insurance
industry, and I want to thank him for all he has done at the department
to promote a competitive marketplace while also effectively protecting
New York consumers," the governor said.