New York State
SUPERINTENDENT LEVIN CONSOLIDATES DEPARTMENT
OPERATIONS FOR MORE EFFICIENT AND EFFECTIVE REGULATION
New York, December 17, 1997
Superintendent of Insurance Neil D. Levin today announced that in an effort to increase the Departments effectiveness and efficiency, he has reorganized the Departments regulatory functions into three bureaus: Property, Life and Health. These three bureaus will be responsible for regulating an insurers financial condition, its products, and market conduct activities, thereby integrating the Departments regulatory approach to an insurers business.
"This reorganization will increase the effectiveness and efficiency of the Departments efforts to regulate company solvency and protect consumers," said Superintendent Levin. "We have consolidated solvency, market conduct examinations and rate and form approvals within these three bureaus which will benefit both the policyholders who rely on the Department for protection as well as the companies we regulate."
The reorganization will be accomplished as follows:
The Bureau Chiefs in charge of these bureaus are Martin Carus for the Life Bureau, Fredric Bodner for the Health Bureau, and Mark Presser, Acting Chief of the Property Bureau. A permanent chief for the Property Bureau will be named in January.