NU Online News Service, May 18, 4:20 p.m. EDT--The New York State Senate today confirmed Howard Mills as New York's insurance superintendent, a post he had held in an acting capacity since January.
His nomination by Republican Gov. George Pataki had been held up while the legislature was busy working on the state budget.
Mr. Mills is a former assemblyman who in 2004 lost a bid to unseat Democratic U.S. Sen. Charles Schumer. He succeeds Greg Serio, who resigned to take a job with a lobbying firm. The annual salary for the New York's insurance superintendent post is $127,000.
The New York insurance superintendent's responsibilities include regulating some 1,000 insurers with total assets exceeding $2 trillion. The position also has an oversight responsibility for more than 100,000 brokers, agents and financial intermediaries and the management of 1,500 department employees.
Mr. Mills served in the Assembly for three, two-year terms, from 1998 to 2004. In the Assembly, he served on the Banking, Housing, Insurance and Ways and Means Committees.
Mr. Mills' private-sector experience includes serving as a telecommunications business consultant and as a business development and public relations officer for Myles Financial Services Group, a Florida, N.Y.-based company offering various financial products including insurance.
"Howard Mills brings an extensive knowledge of insurance regulation, legislative expertise, and management experience to one of the most important regulatory positions in the financial services industry," Gov. Pataki said.
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