What's Happening?
The Connecticut Senate has confirmed Josh Hershman as the state's 34th insurance commissioner. Hershman has been serving in an interim capacity since December 2025, following the retirement of Andrew N. Mais. Hershman, who was previously the deputy insurance commissioner,
has a background in law and has held executive roles in the insurance industry, including as CEO of the Immigrant Life Insurance Co. of America. His focus as commissioner will be on improving the affordability and availability of insurance, supporting market innovation, and enhancing consumer outcomes. The Connecticut Insurance Department, which he now leads, oversees 1,609 licensed companies and is funded through assessments on these companies.
Why It's Important?
Hershman's confirmation is significant for Connecticut's insurance industry, which ranks fifth in the nation for direct written premium. His leadership is expected to drive initiatives that address insurance affordability and market innovation, potentially impacting both consumers and businesses in the state. The department's focus on data-driven regulatory modernization and the use of AI in insurance could lead to more efficient and consumer-friendly practices. This appointment also highlights the state's commitment to maintaining a robust regulatory framework that supports both industry growth and consumer protection.
What's Next?
As Hershman settles into his role, he is likely to continue advancing policies that promote innovation and consumer protection in the insurance sector. Stakeholders, including insurance companies and policyholders, will be watching closely to see how his initiatives unfold and impact the market. The department's ongoing efforts to modernize data exchange and regulatory practices will be crucial in adapting to the evolving landscape of the insurance industry.
