Susan Cogswell, Connecticut’s First Female Insurance Commissioner, Dies

The State of Connecticut's first female insurance commissioner, Susan F. Cogswell, died on July 20.

Cogswell, 57, of Torrington, Conn., was hospitalized last week for an unknown illness. In 2006, she was hospitalized for a noncancerous growth in her head.

In June 2000, she was appointed by former Gov. John Rowland. She succeeded George Reider Jr., and served as insurance commissioner until 2006, when Gov. M. Jodi Rell appointed current Insurance Commissioner Thomas R. Sullivan.

Prior to her appointment to insurance commissioner, she served as the insurance department's chief of staff. She was with the insurance department for more than 12 years.

One of her acts as commissioner was approving MetLife Inc.'s $11.8 billion acquisition of Travelers Insurance Co. and Travelers Life & Annuity Co. from Citigroup Inc. (BestWire July 1, 2005).

"Sue was a prudent yet very consumer-oriented commissioner who made huge strides with the department under her lead. She had a very good, balanced approach not only as a consumer advocate but also a reasonable approach as a regulator with industry," said Kathy Belfi, director of financial regulation with the insurance department. "Here at the department, they talk about an open door policy for commissioners. It certainly was true with her. You were always welcome in her office to talk about whatever issues you had; no issue was too small for her to sit down and listen to anyone."

After the Sept. 11 terrorist attacks, Cogswell made great strides on the regulatory front, said Mark Franklin, the department's administrative manager of policy and programming. "In Connecticut, we had life insurance issues that had to be dealt with and we worked with other regulators to find appropriate response to coverage for terrorism in that terrible period of uncertainty. We also had a medical malpractice pricing and availability problem that she helped us deal with toughly and fairly," he said.

The department's General Counsel Jon Arsenault, said he knew her for many years. "When she first came to the department, it coincided with the insolvency of a local insurance company that wrote small employer health insurance business, based in her hometown. She spent much time at the company headquarters helping me and the commissioner in liquidating the company. She was at ground zero seeing the consumers adversely affected and harmed by the insolvency of an insurance company. She learned a lot, and subsequently when she was commissioner she had a much broader, holistic view of regulating and being a balanced regulator. We are saddened at the insurance department."

Cogswell also served on the National Association of Insurance Commissioners' accreditation committee and was chair to the northeast zone, one of four regional subdivisions within the NAIC.

She also sat on the news-making Reinsurance Task Force, which pioneered the NAIC's proposed Reinsurance Evaluation Office and the Valuation of Securities Task Force, which dealt with the controversial hybrid securities classification issue in 2006 (BestWire, Dec. 22, 2006).

Jane Cline, NAIC president and West Virginia insurance commissioner, issued a statement on the NAIC website: "Members of the NAIC are saddened by the loss of a trusted friend and colleague. Sue Cogswell was a dedicated public servant who brought joy and vitality to everyone and everything she touched. Our deepest thoughts and prayers are with Sue's family."

A graduate of Fairfield University, Cogswell began her career with Chase Manhattan Bank, eventually becoming the second vice president of the municipal finance division. She also worked in the surety division of Travelers Indemnity Co. in Hartford.

She was the former chairman of the Torrington Republican Town Committee and current Board of Education member, beginning in 2009. She also served on the board of directors for the Torrington Water Company and The Charlotte Hungerford Hospital.

"Sue was Connecticut's first female insurance commissioner, and she served state residents well for many years," said Rell in a statement. "Her commitment was always to the people of Torrington and to the people of Connecticut. She had a passion for public service. She was always looking for ways to give back to the community and ways to improve our quality of life. My thoughts and prayers go out to her family and friends. We will all miss her very much."

She is survived by her husband, Jack Cogswell; son, Gregg Cogswell; her mother, Janet Gregg and brother Tim Fraher, all of Torrington; and her nephew Michael Fraher, of Stockton, Calif.

(By Lori Chordas, senior associate editor, Best's Review: [email protected])