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 previously served as deputy
insurance commissioner and CEO of the Immigrant Life Insurance Co. of America, aims to improve the affordability and availability of insurance across all lines. His background includes modernizing data exchange in the insurance industry and focusing on AI's impact on insurance. 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 as it ensures continuity in leadership at a time when the insurance industry faces challenges such as regulatory modernization and the integration of AI. His experience in data-driven regulatory practices and innovation could lead to more efficient insurance processes, potentially benefiting consumers through improved service delivery and cost management. The Connecticut Insurance Department plays a crucial role in the state's economy, ranking fifth in the nation for direct written premiums, which underscores the importance of effective leadership in this sector.
