News Release

New Jersey Department of
Banking and Insurance

Commissioner Ken Kobylowski

For Immediate Release:
July 14, 2015

For Further Information:
Ed Rogan or Marshall McKnight (609) 292-5064

TRENTON - Peter L. Hartt has been named Acting Commissioner of the New Jersey Department of Banking and Insurance effective July 14, 2015. Hartt, Director of the Department’s Insurance Division, will serve until Aug. 1 when Richard Badolato, who was named by Governor Christie on June 22 to serve as Commissioner, will take over as Acting Commissioner. Badolato is a partner in the law firm of Connell Foley.

Hartt who has served in various posts in the Insurance Division for the last 15 years, was confirmed as Insurance Division Director by the New Jersey State Senate in December 2014. As Director, Hartt oversees a staff of more than 300 in six operating units: Solvency Regulation; Consumer Protection; Property and Casualty; Life and Health; Captive Insurance and the Bureau of Fraud Deterrence. He became Acting Director of the Insurance Division in October 2011.

Prior to that, he served as Assistant Director of Insurance from 2002 to 2010 and Assistant Commissioner for the Division from 2010 to 2011.

Hartt has been involved in all policy areas in the Division, with a particular focus in recent years on the growth of insurance markets, including through the admission of new insurers, the progress of insurance reform, competition in personal lines markets, and preparations for natural disasters.

He is also involved in a number of policy matters before the National Association of Insurance Commissioners, including through his representation of the Department on various NAIC working groups.