NEW YORK May 28 New York state Insurance
Superintendent Eric Dinallo will resign effective July 3, 2009,
and become a visiting finance professor at New York
University's Stern School of Business, Governor David Paterson
said on Thursday.
Dinallo was the most prominent state insurance regulator in
the nation due to New York's position as a financial capital.
The Democratic governor saluted Dinallo for overseeing the
state's response to the global credit crisis and the
near-capsizing of bond insurers and insurance giant American
International Group (AIG.N).
"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," Paterson said in
(Reporting by Joan Gralla; Editing by Dan Grebler)