Thomas B. Considine

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Thomas Considine
Born Template:Jersey City, New Jersey
Nationality  United States
Occupation Corporate Healthcare Official & former State Cabinet Officer

Thomas Considine is the Chief Operating Officer of Magnacare.[1] Previous to this he served as Commissioner of the New Jersey Department of Banking and Insurance.[2] Prior to being named Commissioner, Considine worked at MetLife, Inc., a global financial services company, for nearly 17 years. Additionally, he served on a number of professional boards and financial services industry-related organizations.[3]

Commissioner[edit]

Governor Chris Christie, nominated Considine to serve as Commissioner of the Department of Banking and Insurance (DOBI) on January 15, 2010.[4][5] During his tenure, Considine’s approach was to work with business, to streamline the regulatory process, and to make DOBI as adept at promoting the growth and stability of its licensees as it is at protecting consumers.

Since the start of his tenure in 2010, Considine repealed burdensome regulations, spread the pro-growth message of the Christie Administration in the banking and insurance industries, set in motion regulations to reform Personal Injury Protection (PIP), reformed government banking deposit guarantees[6] and worked with the Legislature on bills to expand captive[7] and reinsurance markets.[8][9] He has also taken a strong approach to fighting insurance fraud.[10]

In addition to his responsibilities as Commissioner, Considine held leadership positions with the National Association of Insurance Commissioners (NAIC). He was elected to the national Executive Committee of the NAIC, and also became the Vice Chairman of the NAIC's Northeast Zone.[11] He was also instrumental in leadings the NAIC's Reinsurance Task Force's adoption of revisions to NAIC's reinsurance models.[12]

On January 30, 2012, Governor Christie announced the Considine would be stepping down on February 10, 2012 to return to the private sector as COO of Magnacare.[13]

Professional career[edit]

Prior to his service as commissioner, he worked at MetLife, Inc., a global financial services company, beginning in 1993, where he served most recently as Vice President & Government Relation Counsel. In this role Considine was responsible for a broad range of state government relations and public policy issues for both the financial services and auto and home companies nationally. Considine managed a staff of attorneys and public policy analysts in the Government and Industry Relations Department for the Company. He personally directed government relations activity for the entire MetLife enterprise on all issues in New Jersey. He also managed these issues before the NAIC and co-managed them nationwide.

He coordinated MetLife's integration effort to secure national approvals for its $11 billion corporate acquisition of the Travelers life & health insurance companies. Earlier in his career, he served as an active participant in a corporate crisis management team formed in response to a national, multi-state investigation of alleged improper sales practices.

In addition to this general government relations work, Considine served on a Legal Affairs Diversity Subcommittee, and as the Company's national point person on tort reform issues. He has taken a number of leadership positions throughout his career in national and state coalitions dedicated to achieving civil justice reform, including service on the Steering Committee of the Civil Justice Reform Group with the General Counsel of a number of the Fortune 200 companies. He also served as immediate past Chairman of the Board of Directors of the American Tort Reform Association.

Recognized as an industry leader in his field, Considine served on the Board of Directors of the National Organization of Life and Health Insurance Guaranty Associations, the national coordinating group for the state guaranty system. He also served on the Life and Health Insurance Guaranty Association Board of Directors in New Jersey, where he was Board Treasurer; and also in Pennsylvania. He additionally served as a founding appointee to the New Jersey Department of Banking & Insurance Financial Services Advisory Board.

Further, he played an active role in insurance associations throughout the states, serving as a member of the Board of Directors of the Insurance Federation of Pennsylvania, an organization that deals with all aspects of life, health, property and casualty insurance, as well as retirement issues; and having served on the Texas Association of Life and Health Insurers' Board of Directors and that trade's Legislative Policy Committee.

Prior to joining MetLife, Considine served as a litigation associate at Connell, Foley and Geiser, a major New Jersey law firm. Following law school, Considine served as Judicial Law Clerk to the Honorable Clarkson Fisher, Senior United States District Court Judge in New Jersey.[3]

Education[edit]

Considine received his J.D. cum laude from the Seton Hall University School of Law and his B.S. magna cum laude from the W. Paul Stillman School of Business Administration at Seton Hall University. Additionally, he recently served on the Seton Hall University Alumni Board of Directors.[3]

References[edit]

  1. ^ [1]"Considine's leap from NJ regulator to MagnaCare". Retrieved 2012-3-6.
  2. ^ [2]"Administration". Retrieved 2010-12-22.
  3. ^ a b c [3]"Meet the Commissioner". Retrieved 2010-12-22.
  4. ^ [4],"3 names to head N.J. human services, Guard, banking", www.northjersey.com, (Morristown). 2010-1-15. Retrieved 2010-12-22.
  5. ^ [5],"Considine sworn in as DOBI commissioner". Retrieved 2010-12-21
  6. ^ [6] Government Unit Deposit Protection Adoption". Retrieved 2010-12-22.
  7. ^ A-2360 from the New Jersey Legislature website, www.njleg.org. Retrieved 2010-12-22.
  8. ^ A-2670 from the New Jersey legislature website, www.njleg.org. Retrieved 2010-12-22
  9. ^ [7]"Insurance Commissioner Applauds Captive Insurance Bill; Unveils Reinsurance Initiative". Retrieved 2010-12-22
  10. ^ [8] Daks, Martin (2010-10-20) "State steps up fight against insurance fraud" NJ BIZ. Retrieved 2010-12-22.
  11. ^ [9]"Considine named to leadership post at National Association of Insurance Commissioners", Retrieved 2010-12-22.
  12. ^ [10]"NAIC Adopts Revisions to Reinsurance Models", Retrieved 2012-3-6.
  13. ^ [11]"Head of N.J. Department of Banking and Insurance to step down", Retrieved 2012-3-6.