CID: Katharine L. Wade, Insurance Commissioner

Katharine L. Wade, Insurance Commissioner

{Insurance Commissioner Katharine L. Wade}

Katharine L. Wade was appointed Connecticut’s 32nd Insurance Commissioner by Governor Dannel P. Malloy on March 20, 2015. Wade has more than 20 years of industry experience in the fields of public policy, regulatory compliance, consumer education and outreach.

Wade’s initiatives at the Insurance Department (Department) have enhanced consumer education, regulatory efficiency and customer service. She created a free online consumer letter, “Insurance Matters,” a popular, easy-to-understand publication that features topical issues and is broadly distributed. Her commitment to outreach has helped raise public awareness of the benefits of turning to the Department for help with insurance questions or concerns.

Product and form review turnaround times have markedly improved through process efficiencies and enhanced communication of state standards, ensuring consumer protection while providing greater speed-to-market. Producers and other industry professionals are benefiting from a more efficient licensing processes that include a new online pay portal and improved communication with licensees. Wade also has taken a strong role in helping Connecticut businesses of all disciplines manage their costs by encouraging the creation of well-managed, sustainable captive insurers through the Captive Division’s collaborative engagement with business and government.

Under Wade’s leadership, the Department continues to be active in international and national regulatory discussions to ensure a competitive industry and a robust market for consumers. The Department is the lead regulator on six (6) supervisory colleges—a regulatory collaboration among state and international insurance regulators to assess the financial health and risks of our Connecticut-based companies. The Department also is a participating regulator in six (6) supervisory colleges for companies that have divisions in Connecticut.

The Commissioner represents Connecticut on several national and international standard-setting groups. Wade is an active member of the National Association of Insurance Commissioners (NAIC). A former Chair of the Health and Managed Care (B) Committee, she serves on the Executive Committee, is Chair of the International Insurance Relations (G) Committee and Chair of the Northeast zone of the NAIC. She is a member of the Executive and Policy Development Committees of the International Association of Insurance Supervisors (IAIS). Commissioner Wade also sits on the U.S. Department of the Treasury’s Federal Advisory Committee on Insurance, which provides recommendations to the Federal Insurance Office (FIO) on a periodic basis.

Wade works across state government in a number of key initiatives to improve the health and welfare of Connecticut citizens. She is a member of the Governor’s Climate Change Council; the State Agencies Fostering Resiliency Council (SAFR); the state Alcohol and Drug Policy Council; and the board of directors of Access Health CT, the state-sponsored health insurance exchange.

Prior to joining the Department, Wade led a 130-member national team responsible for federal and state governmental affairs, public policy and U.S. compliance for the health and group life and disability businesses at Cigna.

She earned a Bachelor’s of Arts in History from Simmons College in Boston. Commissioner Wade resides in Simsbury with her husband, Mike, and three children.

Content Last Modified on 1/30/2018 4:26:08 PM