Connecticut insurance Commissioner Katharine Wade will excuse herself as overseer of a proposed $54 billion transaction between health insurers Anthem and Cigna following conflict of interest claims, the Hartford Courant reports.
As commissioner, Mrs. Wade was in charge of overseeing Indianapolis-based Anthem's acquisition of Bloomfield, Conn.-based Cigna. Conflict of interest claims arose over her previous lobbying for Cigna before her appointment by Gov. Dannel Malloy (D-Conn.). She is also married to a Cigna executive and related to other individuals associated with the company.
"There is important work being done every day to protect the insurance consumers of Connecticut. The continued mischaracterization of my role and the steps I have taken to avoid any conflict have been highly politicized," Ms. Wade wrote in a letter her attorney read Thursday. "This controversy created unwarranted and unfair distractions for the Department, despite no conflict of interest."
The Connecticut Office of State Ethics agreed to review Wade's possible conflict of interest as the deal's overseer in June. The state's review of the proposed transition has been placed on hold because of the U.S. Department of Justice's lawsuit against Anthem.
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