Insurance Discussion

MORRISTOWN — Chris Christie on Friday named Tom Considine, vice president and government relations counsel at insurer MetLife Inc., as commissioner of the Department of Banking and Insurance, during a press event in the Morris County Administration Building.It was the latest administrative position announced by the governor-elect in a busy week of filling his cabinet.

Christie said Considine’s experience in banking and insurance issues at the state and national level led to his selection for the position. Under Considine, Christie said he hopes the state will make progress in making health insurance more affordable, using the state’s experience with auto insurance as a model.

Considine, a lawyer, joined MetLife in 1993, and in his current role is responsible for a range of state government relations and public policy issues for both the financial services and auto and home companies nationally.

At MetLife, employees keep a promise to serve the interests of policyholders and consumers, he said, an approach needed at DOBI. In addition, he wants the department to help foster the business community.

“It’s necessary to put the shingle out that says New Jersey is open for business,” he said.

Under the state’s current approach, Considine said, the number of health insurers isn’t likely to grow, but he said he wants to look for ways to draw additional carriers in, as a more vibrant marketplace would help lower costs.

 

Christie said DOBI could help foster business development through the plan being created by Lt. Gov.-elect Kim Guadagno’s red-tape review group, which is examining regulations on businesses and mandates on local governments in a bid to make the state a friendlier place to do business.

“We need to have other companies coming in here,” Christie said.

By eliminating unneeded regulations, the state would cut the cost of doing business, the governor-elect said. Companies “are here to conduct business; they’re not charitable organizations.”

At the event, Christie also announced the reappointment of both Jennifer Velez as commissioner of the Department of Human Services and Maj. Gen. Glenn Rieth as the adjutant general of the New Jersey Department of Military and Veterans Affairs.

E-mail Andrew Kitchenman at akitchenman@njbiz.com