Name Michael Moriarty | Role Government official | |
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Michael Moriarty was the Deputy Superintendent for Property and Capital Markets in the New York State Insurance Department.[1]
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New York State Insurance Department
He oversaw the licensing, examination, and regulation of all property-casualty insurers, and the capital markets and risk management activities of insurance companies. He also oversaw the regulation of captive insurance companies.[2] Moriarty reported to James J. Wrynn, the former Superintendent of Insurance for New York State.
Earlier, he was the Director of the Department’s Capital Markets Bureau, which oversees the capital markets and risk management activities of New York-licensed insurers.
Catastrophe bonds
Moriarty was at the forefront of state regulatory efforts to have U.S. regulators encourage the development of insurance securitizations through catastrophe bonds in the United States instead of off-shore, through encouraging two different methods — protected cells and special purpose reinsurance vehicles.[3]
Education
Moriarty began his career in the Department in 1979, after receiving a BS in accounting from Queens College of the City University of New York. He also holds an Associate in Reinsurance and an Associate in Insurance Accounting & Finance from the Insurance Institute of America.[4]
Award
In 2005, the National Association of Insurance Commissioners (NAIC) awarded Moriarty their most prestigious honor, the Dineen Award, for leading the successful reorganization of the NAIC's Securities Valuation Office.[5][6][7]
Family
Moriarty lives in Middle Village, Queens, New York, with his wife Natalie and their son Danny from Delaware.[8]