NAIC’s New President…It’s Official!

Often I report on things the OIR, and thus Insurance Commissioner Kevin McCarty, has done, (or is not doing) to resolve this, that, or the other problem that may be confronting this, that or the other industry segment. Unfortunately, I’ve rarely taken time to tell you about Commissioner McCarty; the man who runs one of the largest, best funded, and most professional insurance regulatory agencies’ in America.   Now perhaps I should.

To my industry friends who may be saying…”yeah, but“… DON’T! Writing about someone’s qualifications and accomplishments doesn’t require that I agree with everything he’s ever done; only that I admire the proficiency with which he has done it; and, I do.

Example: Kevin recently took time from his schedule, one few of us can even imagine, to share his thoughts and answer questions at an FAIA event (sponsored, in part, by Johnson Strategies, LLC) for the benefit of Tallahassee’s young agents.  He was articulate and candid, and…in undeniable possession of all the facts.

That was last week.

This week, today, Susan Voss (Iowa Commissioner) the outgoing President of the National Association of Insurance Commissioners (NAIC) announced that Commissioner McCarty will officially ascend to the presidency of NAIC effective January 1, 2012.  Humble in acceptance, he was, none the less, realistic about what lies ahead.

 “Over the next year we must confront several important challenges. Whether it is Dodd-Frank or the Affordable Care Act, the federal government has become increasingly involved in the insurance arena.  … I intend to vigorously defend the role of state-based regulation, highlight our accomplishments, and continue to work for regulatory modernization and national uniformity to create an insurance framework that benefits both consumers and the insurance industry.” 

I’m old enough to have been around when Kevin McCarty’s career began to take off. He was an expert on workers compensation at the Department of Labor but left to join the OIR ( DOI) in1991; the year before Hurricane Andrew laid parts of southeast Florida to waste.

In 1992, he became the point-man on all issues relating to the storm’s aftermath, which included the implementation of Florida’s first “Homeowners” residual market, the FRPCJUA. In 2003 he became Florida’s first appointed insurance commissioner.

As commissioner, Kevin has been an active NAIC member through his roles and leadership on a number of key committees.  This is important, as it ensures Florida consumers and insurers have a national voice. He’s also elevated Florida’s international presence by serving on the International Association of Insurance Supervisors’ (IAIS) Executive and Technical Committees, as well as the Joint Forum, a key group of leading international regulators from the insurance, banking and securities sectors.

Perhaps the best way to better know the man who determines so much about your livelihood is to listen/read one or more of his presentations to the United States Congress; which you can do by clicking below.

Meanwhile be sure to keep an eye out for an upcoming blog on sinkhole law Firms, called… “Making a Killing”.

Continuing Care Retirement Communities — 07-21-2010Video of 07-21-2010 testimony

Long-Term Care Insurance –07-24-2008

Credit Scoring — 05-21-2008

The Homeowners’ Insurance Crisis; Impact on Economy — 02-11-2008

Perspectives on Natural Disaster Insurance — 03-27-2007

Stabilizing Markets for Coastal Consumers — 09-13-2006

Video of 09-13-2006 testimony

Is the Housing Market Prepared for a Natural Disaster? — 06-28-2006


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