People – East
Connecticut Insurance Commissioner Thomas B. Leonardi has stepped down from his post to join a New York-based global investment banking advisory firm.
Leonardi, who led the Connecticut Insurance Department for nearly four years, is taking a job as senior advisor focusing on insurance at Evercore.
Connecticut Gov. Dannel P. Malloy is expected to announce subsequent personnel decisions regarding the department in the coming weeks.
Leonardi was appointed by Gov. Malloy in February 2011 to head the state’s insurance department, a regulatory agency with jurisdiction over one of the largest insurance industries in the U.S.
During his tenure, Leonardi has been a member of the National Association of Insurance Commissioners’ (NAIC) Life, Property Casualty, Financial Condition, Accreditation (vice chair for two years), and International Relations (chair) Committees. He served as chair of the Financial Stability Task Force and chair of the Northeast Zone.
Leonardi has been an outspoken supporter of the need for the institution of best practices in good governance at the NAIC, including the proposal to hire an outside consultant to conduct a thorough review of the NAIC’s bylaws, committee selections, and the role and responsibilities of both the officers and the CEO.
Leonardi was the sole U.S. regulator to have concurrently sat on all three International Association of Insurance Supervisors’ (IAIS) Committees: Executive, Technical and Financial Stability.
Massachusetts Insurance Commissioner Joseph Murphy has resigned from his post to join Boston-based medical professional liability insurer Coverys as its new chief operating officer.
In his new role as COO at Coverys, Murphy will oversee underwriting, marketing and risk management, and will play a pivotal role in the execution of Coverys’ long-term strategic plan, the company said. Murphy replaces retiring COO Jack Donehue.
Murphy has led the Massachusetts Division of Insurance for the past five years and was first deputy commissioner for three years before that. He also served as the chief of staff for the Joint Committee on Financial Services and as research director for the Joint Committee on Insurance for the Massachusetts House of Representatives.
In addition, he has served in several leadership roles at the National Association of Insurance Commissioners (NAIC), including chair of the Auto Insurance Study Group, along with serving on a number of committees and task force initiatives.
Massachusetts Housing and Economic Development Secretary Greg Bialecki said in a statement that Murphy has been an invaluable member of Gov. Deval Patrick’s administration, helping to advance Gov. Patrick’s efforts to bring health care cost increases under control for small businesses and families and oversee the introduction of managed competition in auto insurance.
Gregory Maciag, president and CEO of ACORD, said he plans to retire in one year on Jan. 15, 2016 after nearly 40 years with the international insurance data and forms standards-setting organization.
The ACORD board of directors has accepted Maciag’s plan and approved him to serve as an advisor for one additional year through Jan. 15, 2017, the organization said.
During his 20-year tenure as CEO, Maciag managed the expansion of ACORD, which originally dealt with domestic property/casualty standards and forms, into a global organization serving all lines of insurance.
Maciag was hired in 1977 to launch the ACORD Form library. After serving in various senior level positions with ACORD and the merged IIR/ACORD/IVANS during the 1980s, Maciag succeeded Robert Merriman as CEO in 1994.
The ACORD board plans to announce the next CEO at the ACORD2015 event in November in Boca Raton, Fla.
The American Insurance Association (AIA) has hired Alison Cooper as vice president for state affairs, Northeast region, effective January 2015.
Cooper, who currently serves as director of the Senate Insurance Committee in the New York State Senate, replaces Gary Henning who recently left AIA to join Zurich North America’s Government & Industry Affairs Department. Cooper, who will be based in Albany, New York, will oversee AIA’s state affairs activities in the following states: Connecticut, Maine, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.
The New Hampshire Association of Insurance Agents (NHAIA) announced Christopher Nicolopoulos has been named president and CEO of the organization effective Dec. 1. Nicolopoulos succeeds Bob Nash, who announced his retirement in October.
As president and CEO of NHAIA, Nicolopoulos will manage the association with a focus on the enhancement of relationships with agent members. He will also serve as NHAIA’s chief lobbyist, acting as an advocate on state and federal legislation affecting insurance agencies.
Nicolopoulos most recently served as an associate at Preti, Flaherty, Beliveau and Pachios, PLLP, a law firm with offices throughout New England.
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