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New York, June 14, 1999

Superintendent of Insurance Neil D. Levin today announced the resignation of Jennifer Cooperman, the Department’s Deputy Superintendent and Director of Policy. Cooperman is relocating to Portland, Oregon with her husband and will be pursuing opportunities in the Portland area. Her resignation is effective July 9th.

Cooperman has served as an integral member of the Department’s Executive Bureau for the past two years, having been part of Superintendent Levin’s executive transition team after his appointment by Governor Pataki in April 1997. As Director of Policy, Cooperman is responsible for the Department’s policy agenda and for all administrative functions.

"It has been an honor to work alongside Superintendent Levin for the past two years and to have had the opportunity to set priorities during the transition and then to implement our policies and initiatives," said Cooperman.

Cooperman has had principal responsibility for the Department’s regulation of insurer Y2K readiness and disclosure to policyholders – an initiative that has been recognized by members of Congress for its aggressive requirements. She has also been instrumental over the past two years in ensuring that the Department is maximizing technology to improve daily operations and in identifying new electronic initiatives for the Department.

Cooperman was responsible for developing the framework for the Department’s capital markets group, which will support the Department’s oversight of insurers’ increased capital markets activities. In addition, she was responsible for facilitating the Department’s review of its policy form approval process, which has resulted in a more competitive environment for insurers in the marketplace.

"Jennifer has been an invaluable member of my executive team and her contributions and achievements will benefit the Department, consumers and the insurance industry for years to come," said Levin. "With her broad experiences in financial services and administration, Jennifer will be an asset to any organization. I wish her luck in her new endeavors."

Prior to her appointment to the Insurance Department, Cooperman served in a similar capacity at the New York State Banking Department from May 1996 to July 1997. An investment banker prior to joining the Banking Department, Cooperman spent seven years at Goldman, Sachs & Co., having been appointed a Vice President in 1992.

She received her AB in Economics from Brown University in 1982 and her MBA in Finance from The Wharton School, University of Pennsylvania in 1988.

Department of Financial Services


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