HARTFORD, Conn. (AP) _ Gov. Dannel P. Malloy assured representatives of the insurance industry Tuesday they have a partner in Connecticut.
The Democrat appeared in Washington before the National Association of Insurance Commissioners for the group’s annual international insurance forum.
Malloy told the crowd that the insurance industry “matters a great deal to our economy and to our citizens.” He said insurance represents 9 percent of the state’s gross domestic product, while insurance and financial services companies employ more Connecticut citizens than any other industry.
“If we were a stand-alone country, Connecticut would be one of the world’s 10 largest insurance-producing nations,” he said.
Malloy told the group that states are “here to stay” when it comes to insurance regulation, contending that the system fosters competition and welcomes foreign firms. But Malloy said he understands the system needs to “continuously evolve to keep pace” with changes in the complex industry.
Earlier on Tuesday, Malloy spoke about the state’s rollout of the Affordable Care Act at another event sponsored by the Center for American Progress.
Malloy credited the state’s success in signing up enrollees to several factors, including the hiring of Kevin Counihan as CEO of the marketplace, Access Health CT; working with the insurance industry; sticking to strict deadlines; and spending the time needed to prepare for signing up thousands of people who speak many different languages.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)