Thomas B. Considine
Encyclopedia
Thomas B. Considine is the Commissioner of the New Jersey Department of Banking and Insurance
. 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.
Since the start of his tenure in 2010, Considine has repealed burdensome regulations, spread the pro-growth message of the Christie Administration in the banking and insurance industries, set in motion regulations to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 and worked with the Legislature on bills to expand captive and reinsurance markets. He has also taken a strong approach to fighting insurance fraud
.
In addition to his responsibilities as Commissioner, Considine holds 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.
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.
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.
New Jersey Department of Banking and Insurance
The New Jersey Department of Banking and Insurance is one of 15 principal departments in New Jersey government. The Department’s mission is to regulate the banking, insurance and real estate industries in a professional and timely manner that protects and educates consumers and promotes the...
. 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.
Commissioner
Governor Chris Christie, nominated Considine to serve as Commissioner of the Department of Banking and Insurance (DOBI) on Janauary 15, 2010. Since his appointment, Considine’s approach has been 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 has 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
Personal injury protection
Personal Injury Protection is an extension of car insurance available in some U.S. states that covers medical expenses and, in some cases, lost wages and other damages. PIP is sometimes referred to as "no-fault" coverage, because the statutes enacting it are generally known as no-fault laws, and...
(PIP), reformed government banking deposit guarantees and worked with the Legislature on bills to expand captive and reinsurance markets. He has also taken a strong approach to fighting insurance fraud
Insurance fraud
Insurance fraud is any act committed with the intent to fraudulently obtain payment from an insurer.Insurance fraud has existed ever since the beginning of insurance as a commercial enterprise. Fraudulent claims account for a significant portion of all claims received by insurers, and cost billions...
.
In addition to his responsibilities as Commissioner, Considine holds leadership positions with the National Association of Insurance Commissioners
National Association of Insurance Commissioners
The National Association of Insurance Commissioners is an Internal Revenue Code Section 501 non-profit organization which seeks to organize the regulatory and supervisory efforts of the various state insurance commissioners from around the United States. The NAIC was formed in 1871. Its current...
(NAIC). He was elected to the national Executive Committee of the NAIC, and also became the Vice Chairman of the NAIC's Northeast Zone.
Professional career
Prior to his appointment, 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
Fortune 500
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks the top 500 U.S. closely held and public corporations as ranked by their gross revenue after adjustments made by Fortune to exclude the impact of excise taxes companies collect. The list includes publicly and...
companies. He also served as immediate past Chairman of the Board of Directors of the American Tort Reform Association
American Tort Reform Association
The American Tort Reform Association , founded in 1986, is an organization that advocates for tort reform. Its membership consists of more than 300 businesses, corporations, municipalities, associations, and professional firms....
.
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
National Organization of Life and Health Insurance Guaranty Associations
The National Organization of Life and Health Insurance Guaranty Associations is a voluntary, U.S. association made up of the life and health insurance guaranty associations of all 50 states, the District of Columbia, and Puerto Rico...
, 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
Connell Foley
Connell Foley LLP is a major law firm that was established in 1936. Its primary office is located in Roseland, New Jersey, with additional offices in Jersey City, New York City and Philadelphia....
, 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
United States district court
The United States district courts are the general trial courts of the United States federal court system. Both civil and criminal cases are filed in the district court, which is a court of law, equity, and admiralty. There is a United States bankruptcy court associated with each United States...
Judge in New Jersey.
Education
Considine received his J.D. cum laude from the Seton Hall University School of LawSeton Hall University School of Law
The Seton Hall University School of Law is part of Seton Hall University, and is located in downtown Newark, New Jersey. Seton Hall Law School is the only private law school in New Jersey, and is the top-ranked of the three law schools in the state...
and his B.S. magna cum laude from the W. Paul Stillman School of Business Administration
W. Paul Stillman School of Business
The W. Paul Stillman School of Business, is a post-secondary degree-granting institution concentrating in business within Seton Hall University in South Orange, New Jersey. It educates both undergraduate and graduate students. The W...
at Seton Hall University. Additionally, he recently served on the Seton Hall University Alumni Board of Directors.