Meet the Insurance Commissioner


  


Michael F. Consedine was appointed by Governor Tom Corbett to serve as Insurance Commissioner for the Pennsylvania Insurance Department, and confirmed by the Senate on April 26, 2011. (View the Confirmation Testimony.) Pennsylvania is the fifth largest insurance market in the United States, in terms of premium volume, and the 14th largest insurance market in the world. 

On January 1, 2014, Consedine became the Vice President of the National Association of Insurance Commissioners (NAIC). Previously, he served as the Secretary-Treasurer to the NAIC until his term expired on December 31, 2013.

The Insurance Commissioner is entrusted with enforcing the insurance laws of Pennsylvania, including protecting consumers and monitoring the financial solvency of Pennsylvania domestic insurance companies. Pennsylvania serves as the lead regulator for an array of insurance companies from small mutuals that trace their history to the 1700s to a number of large internationally active insurance groups. Pennsylvania has been at the forefront of advancing the regulation of domestic IAIGs. The department also investigates and enforces state laws and regulations pertaining to insurance and responds to consumer inquiries through its three regional offices. The department provides the public with information and educational brochures regarding various types of insurance.

Commissioner Consedine serves on a number of NAIC committees focused on international and domestic matters including Chair of the International Insurance Relations (G) Committee. Consedine previously chaired the Reinsurance (EX) Task Force and Health Care Reform Alternatives Working Group.  Consedine was also named by the U.S. Treasury Department to serve on the Federal Advisory Committee on Insurance which is advising the Federal Insurance Office.  Consedine also acts as the NAIC's representative to U.S. - EU Insurance Dialogue Steering Committee.  Commissioner Consedine is active in the ongoing efforts by the International Association of Insurance Supervisors to develop global insurance standards.

Throughout his legal career, Consedine has concentrated his practice on regulatory and corporate matters involving insurance entities and consumers. From 1995-1999, Consedine served as department counsel for the Pennsylvania Insurance Department, where he represented the department in litigation proceedings and on transactional filings. These matters included major corporate restructurings, development and implementation of legislation permitting financial institutions to engage in the sale of insurance, and several landmark enforcement action cases against insurance companies engaged in illegal geographic discrimination, as well as "churning" of life insurance policies.

 

From 1999 through January of 2011, Consedine practiced with the law firm of Saul Ewing LLP where he was a Partner and Vice-Chair of the firm's Insurance Practice Group. While in private practice Consedine counseled insurance companies, reinsurers, producers, and commercial policyholders in a wide-array of complex insurance regulatory and corporate matters, including landmark demutualizations, mergers and acquisitions, insurance company liquidations and international transactions.  

 

A graduate of James Madison University, Consedine earned his bachelor’s degree in political science and journalism, and is an honors graduate of Widener University School of Law.

 

Commissioner Consedine has written and lectured on a variety of insurance topics including health insurance reform, international solvency modernization, insurance insolvencies, corporate governance and market conduct and financial examinations among others. He has received a number of recognitions for his work in insurance and business.

 

Consedine is active in his community and previously served on a number of charitable boards.   

 

The Pennsylvania Insurance Commissioner administers the following:

·        Children’s Health Insurance Program (CHIP)

·        Catastrophic Loss Benefits Continuation Fund

·        Workers' Compensation Security Fund 

·        Medical Care Availability and Reduction of Error Fund (Mcare)

 

The Pennsylvania Insurance Commissioner is a member of:     

·        Pennsylvania Health Care Cost Containment Council

·        Children’s Health Insurance Advisory Board 

·        Underground Storage Tank Indemnification Board

·        Coal and Clay Mine Subsidence Insurance Fund

·        State Worker's Insurance Fund

·        Assigned Risk Plan board member, ex-officio

·        PA Fair Plan board member, ex-officio

 

The department also investigates and enforces state laws and regulations pertaining to insurance and responds to consumer inquiries. The department provides the public with information and educational brochures regarding various types of insurance.