New Jersey Commissioner of Banking and Insurance
|New Jersey Commissioner Banking and Insurance|
|Office website:||Official Link|
|2013 FY Budget:||$63,450,000|
|Length of term:||Serves at the pleasure of the governor|
|Authority:||New Jersey State Statutes, Title 17, Section 1-1|
|Selection Method:||Appointed by Governor|
|Assumed office:||February 11, 2012|
|Other New Jersey Executive Offices|
|Governor • Lieutenant Governor • Secretary of State • Attorney General • Treasurer • Comptroller• Commissioner of Education • Agriculture Secretary • Insurance Commissioner • Commissioner of Environmental Protection • Labor Commissioner • Public Utilities Board|
The Commissioner serves as head of the Department of Banking and Insurance which is responsible for regulating the banking, insurance and real estate industries in the state.
The current officeholder is Kenneth Kobylowski. Kobylowski was selected to serve in the position by Governor of New Jersey Chris Christie (R) on February 11, 2012, and was confirmed by the Senate on December 20, 2012.
The Department of Banking and Insurance was orignially established by "An act to establish a Department of Banking and Insurance" (1891) and is continued in Title 17, Section 1-1 of the New Jersey State Statutes:
All the powers, functions and duties of the existing Department of Banking and Department of Insurance and the commissioners thereof are continued in the Department of Banking and Insurance, and in the office of the commissioner thereof...
Per Title 17, Section 1-2 of the New Jersey State Statutes outlines the qualifications for commissioner:
- "No person shall be appointed commissioner who is in any way connected with the management or control of any corporation, firm, association, institution, or licensee affected by Title 17 of the Revised Statutes or Title 17B of the New Jersey Statutes"
- "Neither the commissioner nor any officer or employee of the department shall have any ownership of, interest in, or any dealings or transactions in any capacity with any financial institution, insurance company or other entity chartered, licensed or regulated by the department, except in the strict performance of the commissioner's, officer's or employee's duties."
Per Title 17:1-2 of the New Jersey Statutes, the Commissioner of Banking and Insurance is appointed by the governor with the advice and consent of the Senate and serves at the pleasure of the Governor. 
Note: Ballotpedia's state executive officials project researches the constitutional or statutory text that details the process of filling vacancies for a state executive office. That information for the New Jersey Commissioner of Banking and Insurance has not yet been added. After extensive research we were unable to identify any relevant information on state official websites. If you have any additional information about this office for inclusion on this section and/or page, please email us.
The mission statement of the Department of Banking & Insurance is "to regulate the banking, insurance and real estate industries in a professional and timely manner that protects and educates consumers and promotes the growth, financial stability and efficiency of those industries."
Note: Ballotpedia's state executive officials project researches state official websites for information that describes the divisions (if any exist) of a state executive office. That information for the New Jersey Commissioner of Banking and Insurance has not yet been added. After extensive research we were unable to identify any relevant information on state official websites. If you have any additional information about this office for inclusion on this section and/or page, please email us.
The budget for the Department of Banking and Insurance in Fiscal Year 2013 was $63,450,000.
Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders. That information for the New Jersey Commissioner of Banking and Insurance has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.
This section displays the most recent stories in a google news search for the term "New Jersey" + Commissioner + of + Banking + and + Insurance
- All stories may not be relevant to this page due to the nature of the search engine.
- With deadline looming, NJ undecided on extension for canceled health ... - NorthJersey.com
- Department of Banking & Insurance Gives Healthcare Insurers Option to ... - HispanicBusiness.com
- Former Commissioner of NJ Department of Banking and Insurance, Tom ... - Business Wire (press release)
- Livingston High Students Get Schooled On Finances, Dangers Of Social Media - Patch.com
- N.J. insurance chief quizzed on Obamacare options - Philly.com
- Future of New Jersey health insurance discussed in state Senate - News 12 New Jersey
- Obama's ACA reversal now in hands of NJ insurance regulators - NJBIZ
- States Divided on Letting Insurers Extend Old Health Plans - Wall Street Journal
- Firm introduces private market flood insurance in New Jersey - IFAwebnews.com
- Washington and New Jersey Announce 2014 Workers' Comp Rate Hikes - PropertyCasualty360
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NJ Department of Banking and Insurance
20 West State Street
PO Box 325
Trenton, NJ 08625
- ↑ Department of Banking and Insurance, "About the Department," accessed October 29, 2011
- ↑ New Jersey Department of Banking and Insurance, "Meet the Commissioner," accessed July 5, 2012
- ↑ 3.0 3.1 New Jersey Permanent Statutes Database, "17:1-2.Commissioner of Banking and Insurance, appointment, salary; interests prohibited to commissioner, officers, employees," accessed October 29, 2011
- ↑ State of New Jersey Department of Banking & Insurance, About the Department
- ↑ New Jersey Department of the Treasury, "FY 2012 - 2013 Appropriations Handbook," accessed April 22, 2013
- ↑ The Council of State Governments,"The Book of States 2010 Table 4.11," retrieved June 22, 2011