Governor Christie will nominate Richard J. Badolato to replace Kobylowski as Commissioner of Banking and Insurance. Badolato is a partner at the law firm of Connell Foley in Roseland. He has expertise in civil trial litigation including medical, legal, and dental malpractice; products liability; automobile litigation; insurance coverage and policy interpretation and subrogation recovery. Badolato has served as President of the New Jersey State Bar Association, President of the New Jersey State Bar Foundation as well as Chairman for the Supreme Court Advisory Committee on Professional Ethics. He also served as Chairman of the Supreme Court of New Jersey Commission on Professionalism in the Law. Badolato is a graduate of Rutgers School of Law and Fairfield University.
Badolato is expected to begin his service on August 1, 2015. Governor Christie nominated Kobylowski to serve as Commissioner of Banking and Insurance on January 30, 2012 and was confirmed by the Senate on December 20, 2012. Kobylowski joined the Department as Chief of Staff in February 2010 and took on the additional role of Acting Director of Banking in October 2011.
As Commissioner, Kobylowski has been responsible for overseeing New Jersey’s banking, insurance and real estate industries. During this time, he brought a pro-business regulatory culture to the department that promoted growth and strengthened New Jersey’s major insurance markets without sacrificing consumer protection. He worked for the enactment of laws establishing an interstate insurance compact; helped reform New Jersey’s insurance and surplus lines laws, allowing the establishment of captive insurance companies; and established the Bureau of Fraud Deterrence, making the fight against civil insurance fraud a key part of the Department’s mission. Kobylowski also enacted sweeping changes to the Personal Injury Protection (PIP) portion of auto insurance in 2013, completing a decade-long reform effort that has had long-term positive effects on the state’s auto insurance market. Nine of the nation’s top 10 auto insurers are now writing auto business in New Jersey.
During his tenure, Kobylowski has served as Chair of the National Association of Insurance Commissioner’s (NAIC) Financial Stability Task Force as well as a member of NAIC’s International Relations Committee and Financial Conditions Committee.
He has also served on NAIC’S Executive Committee as Chair of the Northeast Zone. Additionally, Mr. Kobylowski represents the NAIC on the International Association of Insurance Supervisors’ (IAIS) Executive Committee and Financial Stability Committee. He was also appointed by the Governor to serve on the State Employees’ Health Benefits Plan Design Committee and the School Employees’ Health Benefits Plan Design Committee. Kobylowski was instrumental in leading the department through successful reaccreditation by both the NAIC and the Conference of State Bank Supervisors.