To The Editor:
This is in response to “Friends in High Places” published on Feb. 16. It has been widely reported that the Connecticut Insurance Department granted a permitted accounting practice to The Hartford. Indeed, some may choose to challenge the fact that I was employed by The Hartford prior to being appointed Insurance Commissioner.
There has been an implication that I granted them a permitted accounting practice because of my history with that company. As I have said, neither I nor any member of my family has any interest — financial or otherwise — in The Hartford.
There is no legal or ethical reason why I should not discharge my duties as required by law. Connecticut consumers and the Connecticut insurance industry deserve a commissioner who is not afraid to make tough decisions — even when they may not be politically popular.
As commissioner, I am guided by what is in the best interest of the consumer — particularly in these unprecedented financial times. I am honored to be insurance commissioner and I take my job very seriously.
For the Hartford Business Journal to suggest that the sole basis for my decision was based on the name of the company requesting the permitted accounting practice, rather than a detailed financial analysis, does not tell an accurate story and does its readers a great disservice.
In addition, as it has been reported, Connecticut is not the only state that has granted a permitted accounting practice. Other regulators have done the same with tight scrutiny based on individual company needs.
It would have also been helpful for your readers to know that many permitted accounting practices have been granted after years of debate before the National Association of Insurance Commissioners.
Thomas R. Sullivan
Insurance Commissioner
State of Connecticut
