Dinallo Resigns From N.Y. Insurance Dept.

Eric Dinallo will resign from the position of superintendent of the New York State Insurance Department in July as a possible precursor to a run for New York attorney general.

Dinallo, appointed to the position in January 2007, made headlines last year when he worked on a massive rescue plan for embattled bond insurers, including MBIA (MBI Quote) and Ambac Financial (ABK Quote). Dinallo also worked closely with the Treasury Department and the Federal Reserve after the collapse of AIG (AIG Quote).

Dinallo's resignation is effective July 3, and he will become the Henry Kaufman Visiting Professor of Finance at New York University's Stern School of Business. ...