Pennsylvania Governor Ed Rendell announced at a news conference in Harrisburg that the state’s present Insurance Commissioner, Diane Koken, would be his nominee to continue to head the department in his administration. She was first appointed to the post of Acting Insurance Commissioner in August 1997 by then-Governor Tom Ridge.
“During not only her years as Commissioner, but across the course of her entire professional life, Diane has exhibited a true dedication to consumers, especially those here in Pennsylvania,” said Rendell. “We are facing some serious insurance challenges today in Pennsylvania, and I am very pleased that Diane will be providing her expertise to this endeavor as we begin to move forward.”
Koken was confirmed by the Pennsylvania Senate as Insurance Commissioner for the Commonwealth of Pennsylvania in December 1997 and again in February 1999. Prior to her appointment, she was Vice President, General Counsel and Secretary for a major life insurer.
“As a member of the Governor’s Cabinet, the Commissioner is responsible for the regulation of the insurance industry in the Commonwealth and the protection of the insurance consumer. Pennsylvania ranks among the top 5 states in insurance premium volume in the country. The Commissioner administers AdultBasic Health Insurance, the Children’s Health Insurance Plan, Catastrophic Loss Benefits Continuation Fund and the Workers’ Compensation Security Fund,” said the announcement.
The Department also “monitors financial solvency, licenses agents and brokers, reviews and approves rates and forms, and coordinates the takeover and liquidation of insolvent companies and the rehabilitation of financially troubled insurers. In addition, the Department investigates and enforces state laws and regulations pertaining to insurance and responds to customer inquiries in its four regional offices.”
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