NYSIF Announces Appointment of Dennis J. Hayes as Chief Executive Deputy Director
June 14, 2011
New York State Insurance Fund (NYSIF) Board of Commissioners Chairman Robert H. Hurlbut today announced the appointment of Dennis J. Hayes as Chief Executive Deputy Director of NYSIF, effective July 1, 2011.
Governor Andrew M. Cuomo
recommended Mr. Hayes for appointment to the Fund on June 10. NYSIF’s Board of Commissioners unanimously approved the appointment at its regular board meeting today, June 14.
Mr. Hayes has 29 years experience as an attorney specializing in insurance, reinsurance and receivership matters. He has been a senior executive at the
New York Liquidation Bureau (NYLB) since 1996. He previously served as Assistant Special Deputy Superintendent of NYLB, where he oversaw the Reinsurance and Estate Management divisions since April 2007. He was named Special Deputy Superintendent in September 2009.
“NYSIF welcomes Chief Executive Deputy Director Hayes to the Fund,” Chairman Hurlbut said. “The Board, NYSIF’s Executive staff and our management team look forward to working together with Mr. Hayes, whose knowledge of the insurance industry and extensive experience will be an asset to NYSIF.”
Mr. Hayes started his career in the insurance industry in 1982 as an attorney for the New York Insurance Exchange. As an attorney in private practice from 1987 to 1996, he specialized in insurance, reinsurance and regulatory matters. From 2001 to 2003, Mr. Hayes was Executive Vice President and General Counsel to Recovery National Corporation in Tarrytown, NY, a company specializing in identifying and recovering unrealized reinsurance.
In his previous NYLB position as executive director for Receivership Operations, Mr. Hayes had a key role in developing the final plan for the successful rehabilitation of Interboro Mutual Indemnity Insurance Company and its conversion to Interboro Insurance Company. He also managed the rehabilitation of Rochdale Insurance Company.
Mr. Hayes is a 1974 magna cum laude graduate of Saint Leo University and a 1981 graduate of St. John’s University School of Law. He and his wife, Marianne, have two children.
The New York State Insurance Fund is a non-profit agency of the state of New York that was created as part of the Workers’ Compensation Law of 1914. NYSIF is a competitive insurance carrier that sells workers’ compensation and disability benefits insurance to any employer doing business in New York State. Approximately 170,000 employers hold NYSIF workers’ compensation policies (approximately 31% of the market), while more than 61,000 have active disability benefits policies.