The superintendent of the New York State Department of Financial Services (“DFS”), Linda A. Lacewell, has promoted James V. Regalbuto to deputy superintendent for insurance, the second ranking position in the DFS's insurance division.
Mr. Regalbuto will be reporting to Laura Evangelista, executive deputy superintendent for insurance.
The DFS said in a statement that, in his new role, Mr. Regalbuto will have greater management responsibility and will help to position the insurance division with respect to new technologies and other matters of significant public concern.
As deputy superintendent for life insurance at the DFS, Mr. Regalbuto oversaw the regulation of over 190 licensed life insurers and accredited reinsurers, 12 retirement systems, over 350 charitable annuity societies, and 23 life settlement providers.
Mr. Regalbuto also implemented policy initiatives such as the best interest regulation for life insurance and annuity products and the DFS's first-in-the-nation guidance with respect to the use of big data and algorithmic underwriting in life insurance.
Prior to joining the DFS in 2015, Mr. Regalbuto worked for two different New York-based insurers. He previously was licensed as an insurance agent.
Mr. Regalbuto holds an M.B.A. from the SC Johnson Graduate School of Management at Cornell University and a B.B.A. from the University of Miami.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].