Joseph DiMemmo has experience in state insurance regulatory matters and the business of the insurance industry. He has had an extensive career with the Pennsylvania Insurance Department serving as a Deputy Insurance Commissioner for more than 15 years.
Joe’s regulator experience includes both insurance companies operating as going concerns as well as companies in receivership. He has reviewed complex corporate transactions, reinsurance agreements and statutory financial statements for compliance with statutes and regulations. He has made presentations to industry trade groups on regulatory oversight and receiverships. His relevant experience also includes:
- Management of special fund programs including Mcare, Underground Storage Tank Indemnification Fund, Workers Compensation Security Fund and the Auto Cat Fund.
- Corrective action plans to address solvency issues for troubled domestic insurers.
- NAIC committee member for statutory accounting, financial analysis, risk based capital and other financial solvency committees for insurers.
- Liquidating and rehabilitating domestic insurers and coordinating with state insurance guaranty funds on national solvency matters. Joe oversaw the liquidation of the largest insurer liquidated in the United States and two of the largest long term care insurers in rehabilitation.
- Testified as a regulator in state and federal courts.
Pennsylvania State University, B.S., 1978, Accounting
Certified Public Accountant