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.

Commissioner Wade is responsible for consumer protection and the regulation of an industry that generates $170 billion in direct written premium (top 3 in U.S.) and makes up 5.26 percent of Connecticut’s gross domestic product. Because an important part of consumer protection is ensuring consumer access to a variety of products, services and choice of companies, she actively works with innovators and incumbents to use and leverage technology and innovation in new products and services, enhance the customer experience, and improve risk management and insurance operations.

Among the hallmarks of her tenure at the Department is 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.

She oversaw the successful implementation of Department-wide regulatory efficiency initiatives that significantly reduced turnaround times for product review and company licensing, resulting in greater speed-to-market of products that offer consumers more choices while maintaining appropriate safeguards. The state’s 230,000 agents, brokers, adjusters and bail bonds agents are also benefiting from a more streamlined licensing process.

Under Wade’s leadership, the Department continues to be a leading participant in international and national regulatory reviews and standard setting to ensure a competitive domestic industry that competes globally and a robust market for consumers. She is serving in her second year as Chair of the International Insurance Relations (G) Committee of the National Association of Insurance Commissioners (NAIC) and is a member of the Executive and Policy Development Committees of the International Association of Insurance Supervisors (IAIS). She also is a current member of the NAIC’s Executive Committee.

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. Commissioner Wade resides in Simsbury with her husband, Mike, and three children.

Content Last Modified on 9/11/2018 12:33:38 PM