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Insight from state officials
 Lt. Gov. Michael Fedele spoke to attendees of a breakfast held Tuesday, March 18. |
On Tuesday morning, Lt. Gov. Fedele addressed a breakfast that included PIA-member agents, Commissioner Sullivan and others. He noted the unique ability of the current administration in Connecticut to reach out to small businesses to benefit the state's economy, as he and others, like the commissioner, did not come up the ranks as politicians, but were first members of the business world. Fedele, founder and chief executive officer of the successful information technology company, Pinnacle Group, added that he and the rest of the Rell administration have a special interest in maintaining the state's economy, which is anticipated to show a surplus, in stark contrast to the major deficits expected in states surrounding Connecticut. He concluded by pointing to specific initiatives currently before the state legislature that can be expected to help shore up the state's economy in the face of a challenging market.
 State Insurance Commissioner Thomas Sullivan addresses conference attendees at the annual awards luncheon Tuesday. |
Conference attendees also had the opportunity to hear from Commissioner Sullivan at the annual awards luncheon Tuesday, March 18. “I know what your efforts mean to the consumer- public in Connecticut,” said Sullivan, who began his career with the Hartford Insurance Group. “I've seen it first hand. You provide an incredibly valuable service to our citizens by being on every street corner throughout the state, throughout the country, providing guidance and personal service.” The commissioner discussed the formidable challenge of furthering pro-business causes and his confidence in the continued prosperity of the independent agency system. Sullivan also emphasized his three goals during his tenure as insurance commissioner: expediting consumer service; fostering robust competition by allowing carriers to introduce new products in a changing marketplace; and enhancing communication, particularly with the state legislature. He noted the improvements made in his short time as commissioner by reducing the filing backlog in the property and casualty division by more than 1,000 queries and highlighted his goal of having a 90-day maximum turnaround for p/c rate and form filings.
Sullivan stressed his commitment to keeping insurance regulation at a state level, “because it has consistently been the best route, proven by more than 150 years of work.” He noted his opposition to the optional federal charter and instead expressed his support of state-to-state compacts to create more unified regulations rather than turning over control to the federal government. “When you dial ‘1-800 WASHINGTON,‘ you don't get the service you expect,” he said. “There needs to be more consensus among stakeholders when considering regulation.”
