An insurance attorney who headed the New York State Insurance Fund (NYSID) has been appointed as the New York Insurance Department superintendent by NY Governor David Paterson.
James Wrynn, called an “experienced insurance lawyer with expansive involvement in government” by Paterson, took over the position on August 20 after the resignation of Eric Dinallo last month. Dinallo left to become a visiting professor at New York University’s Stern School of Business.
The NY state Senate must still vote on Wrynn’s confirmation, so he will serve as Paterson’s designee until confirmed. New York workers depend on insurance companies to responsibly manage their businesses to ensure that all workers are fully covered by workers’ comp insurance.
Paterson thanked Kermitt Brooks for his service as interim superintendent and said that he would return to his former position. Brooks was the first deputy superintendent under Mr. Dinallo and stepped in as acting superintendent after Dinallo left. Brooks was considered for the superintendent position, but ultimately lost out to Wrynn.
Wrynn was an appealing candidate for Paterson due to his career-long involvement in insurance law. He steps into a difficult position, given the tenuous state of the insurance industry since the economy collapsed and big insurers like AIG had to be rescued with federal bailout money, only to become embroiled in further scandal.