Press Release 

February 17, 2021


10-Member Board Advises the Superintendent on Furthering DFS’s Mission and Goals for the Insurance Industry 

The Board Represents Various Sectors of the Insurance Industry and Consumer Advocates 

Members Are Appointed by the Superintendent for a Three-Year Term 

Superintendent of Financial Services Linda A. Lacewell announced the New York State Department of Financial Services (DFS) has appointed members to serve a three-year term on the New York State Insurance Advisory Board. Members of the Board include representatives of the insurance industry and consumer advocates, as required by statute.    

“DFS is committed to promoting the growth and the safety and soundness of the insurance industry, offering consumers a robust and fair marketplace and contributing to the state’s economy as we rebuild and recover,” said Superintendent Lacewell. “The Advisory Board is composed of a diverse group of experts who will provide their insights to help DFS carry on its mission to protect consumers and regulate the insurance industry.”   

The Superintendent has evaluated the nominations received and selected Board members that reflect the broad diversity of the State of New York and the insurance industry. The Board, established by Section 201 of the New York Insurance Law, is tasked with encouraging and promoting the growth of the insurance industry in the state , and furthering the goals of DFS as they relate to the insurance industry and the protection of consumers.  

The Board consists of ten members appointed by the Superintendent. The membership consists of seven representatives of domestic insurance companies, one insurance producer representative and two consumer representatives.  Each member serves a term of three years or until a successor is appointed. In addition, Board members may be re-appointed for additional terms at the Superintendent’s discretion.     

The following individuals will serve a three-year term on the Board:   

  • Chuck Bell, Programs Director, Consumer Reports  
  • Jean Marie Cho, Managing Director, Head of Global Compliance Monitoring, Marsh LLC 
  • Lucy Fato, Executive Vice President & General Counsel, AIG  
  • Roger W. Ferguson, Jr, President & CEO, TIAA  
  • Karen Ignagni, CEO & President, Emblem Health  
  • Natalie Lamarque, Senior Vice President & General Counsel, New York Life Insurance Company  
  • Andrew McMahon, Chief Executive Officer and President, The Guardian Life Insurance Company  
  • Diane K. Spicer, Supervising Attorney, Community Health Advocates, Healthcare for All New York Campaign, Community Service Society  
  • Bernard Turi, Senior Vice President & General Counsel, Utica National Insurance Group  
  • Michael Zarcone, Executive Vice President & Head of Corporate Affairs, MetLife  

Additional information regarding the Board can be found on DFS’s website here.