Hayes Named To Lead N.Y. Liquidation Bureau

NU Online News Service, Sept. 2, 1:35 p.m. EDT

Acting New York State Insurance Superintendent James J. Wrynn has appointed Dennis J. Hayes as special deputy superintendent of the New York Liquidation Bureau, which acts as receiver of insurance companies that have been declared impaired or insolvent, according to the New York State Insurance Department.

Mr. Hayes replaces Mark Peters, who served as head of the NYLB since April 2007. Mr. Peters will serve as a special advisor to Mr. Hayes, a department statement said.

Mr. Hayes has been a senior executive at the NYLB since 1996, most recently serving as assistant special deputy superintendent. He has 27 years experience as an attorney specializing in insurance, reinsurance and receivership matters.

At the NYLB, in a previous role as executive director for receivership operations, Mr. Hayes developed the final plan for the successful rehabilitation of Interboro Mutual Indemnity Insurance Company and its conversion to Interboro Insurance Company. He also managed the rehabilitation of Rochdale Insurance Company, the department said.

Mr. Hayes started his career in the insurance industry in 1982 as an attorney for the New York Insurance Exchange.

Acting Supt. Wrynn said, "Dennis is exceptionally qualified for this position and possesses an intimate knowledge of the Liquidation Bureau. He is well positioned to continue the important progress that the NYLB has made in the last two years, and to maintain its integrity and accountability."

Mr. Wrynn was tapped as acting superintendent last month by Governor David Paterson.