Trenton, NJ – New Jersey Department of Banking and Insurance Commissioner Marlene Caride recently took the oath of office at a ceremony held at the office of Governor Phil Murphy. She is the first Hispanic to serve as commissioner of the Department, which oversees New Jersey’s banking, insurance and real estate industries.
“I am honored to serve in the Murphy Administration and to continue the work to make sure New Jersey consumers are protected. Under the Governor’s leadership, the Department has focused on the important work of ensuring that residents have access to affordable quality healthcare,” said Commissioner Caride. “We have made significant progress on initiatives aimed at improving and stabilizing the health insurance market in New Jersey. While I am proud of the work we have done so far, there is much more to do on this and other issues. I look forward to working to ensure that New Jersey residents have access to well-regulated insurance, banking and lending options, and that they have confidence in the entities the Department oversees and that they rely on.”
The Department’s mission is to regulate the banking, insurance and real estate industries in a manner that protects and educates consumers and promotes the growth, financial stability and efficiency of those industries. Commissioner Caride has ensured that under her leadership the Department is consumer focused and exercising vigilance in investigating consumer complaints and holding companies accountable when they are not operating appropriately and in accordance with the law.
A top priority of the Murphy Administration and the Department is to ensure New Jersey residents have access to affordable quality healthcare. During the first five months of her tenure, Commissioner Caride has worked proactively to strengthen and improve the health insurance market in the state. The Department recently took over plan management of the Affordable Care Act marketplace in New Jersey and is preparing to submit a 1332 state innovation waiver application to the federal government to allow for the creation of a reinsurance program, as provided for by state law, to help stabilize the insurance market and lower anticipated premium increases.
Prior to joining the Department, Commissioner Caride was a member of the New Jersey General Assembly representing the 36th Legislative District. She was a partner in the Union City law firm of Gonzalez & Caride. Commissioner Caride is a member of the Bar of the Supreme Court of the United States, the New Jersey State Bar Association, the Hudson County Bar Association and the Hispanic Bar Association of New Jersey.
The commissioner is a graduate of California Western School of Law and Fairleigh Dickinson University with a Bachelor of Arts in Education. She resides in Ridgefield, New Jersey.
Source: NJ of Banking and Insurance