A matter of principle: Why I resigned as Commissioner of the New York State Insurance Fund

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For the past seven years, I have had the privilege of serving as a Commissioner of the New York State Insurance Fund. It has been a deeply rewarding experience to work alongside colleagues devoted to safeguarding workers, supporting employers, and ensuring the financial stability of one of New York’s most vital institutions. I accepted that role with gratitude and I have carried it with pride.

Earlier this month however, I resigned. This was not a decision made lightly, but rather one compelled by principle.

Governor Kathy Hochul’s recent decision to endorse Assembly Member Zohran Mamdani for Mayor of New York City — later retracted — made my position untenable. However brief her support, the willingness to lend the authority of the Governor’s office to such a candidacy cannot be overlooked. In matters of public trust, intent and signal matter as much as duration.

The policies Mr. Mamdani advances are not simply a matter of ideological difference. They represent an approach to governance that, in my view, risks serious harm to the city and state. Proposals such as indefinite rent caps and municipally owned grocery stores may be offered as bold interventions, but their practical effect would be to erode housing markets, discourage private investment, and stifle the very entrepreneurial spirit that has long driven New York’s dynamism. At a time when the city faces steep competition for both talent and capital, retreating into economic experiments of this kind is not merely misguided; it is dangerous.

Equally troubling are Mr. Mamdani’s unvirtuous public statements that many have regarded as manifestly  antisemitic. In an era already marked by division and suspicion, rhetoric that singles out and marginalizes entire communities undermines the civic cohesion upon which democratic society depends. It is not only corrosive — it is reckless. Leaders may disagree with policy, but there can be no equivocation when it comes to basic decency and respect for all citizens.

From my perspective, the convergence of unsound economic experimentation with divisive public rhetoric transgresses the boundaries of responsible leadership. They render Mr. Mamdani’s candidacy unworthy of serious consideration. That the Governor was willing, however briefly, to stand behind it suggested a tolerance for extremism that I could not reconcile with my duty as a public servant.

Public service, at its best, is built upon a compact of trust: that those entrusted with authority will exercise judgment grounded in principle, even when it is inconvenient or politically costly. Once that compact begins to erode, resignation becomes the only honorable course.

I leave my post at the Insurance Fund with a sense of accomplishment. Together, my colleagues and I worked diligently to strengthen the Fund’s mission and protect both employers and employees across New York. For that shared effort, I will always be grateful. But I also leave with conviction: fidelity to principle must come before position.

New York has always thrived because it has embraced ambition, innovation, and resilience. Its future depends on leaders who understand that prosperity and fairness are not achieved by dismantling markets or indulging in divisive rhetoric, but by fostering an environment where enterprise can flourish and communities can trust one another. That is the standard by which I have measured my own service. It is also the standard by which I believe our leaders must be held.

To remain in office while these principles are compromised would have been a betrayal of conscience. And so, I have resigned,  not in protest alone, but in affirmation of the enduring values that should guide those entrusted to serve the public.