TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation today announced that Commissioner Kevin McCarty was elected to the position of vice president of the National Association of Insurance Commissioners (NAIC). The vote today at the NAIC Winter National Meeting elevates McCarty to this position with the NAIC for a one-year term.
Since his appointment as Florida's insurance commissioner in 2003, McCarty has been an active NAIC member through his roles and leadership on a number of key committees. Commissioner McCarty is a member of the Executive Committee, the Government Relations Leadership Council, the International Insurance Relations Leadership Group; and he is the chairman of the Catastrophe Insurance Working Group.
"I am humbled and honored to be elected to serve as vice president of this esteemed organization," said Commissioner McCarty. "I intend to bring the experiences gained as commissioner of the fourth largest state in the country to this new post, and to remain an effective part of the NAIC leadership group. As a team, we will strive to keep a balance between the challenges facing the insurance industry and protecting our consumers.
"The recession we are experiencing has led to the creation of proposals to create federal offices to oversee the financial markets and the insurance industry. I am a proponent of state-based insurance regulation, because it affords better consumer protection, encourages products tailored to local markets and leads to the increased scrutiny that helps to ensure the financial solvency of insurance companies. I will continue to work with my colleagues to assist the U.S. Congress in the formation of these new entities as they relate to the regulation of insurance."
Commissioner McCarty's national experience includes invitations to testify before the U.S. Congress on a variety of insurance-related issues including homeowners insurance and the economy, disaster preparedness, the coastal insurance marketplace, credit scoring and long-term care insurance consumer protection standards. Commissioner McCarty helped broker the NAIC Resolution in favor of a National Catastrophe Plan and presented it to Congress in December 2005. McCarty’s colleagues elected him to the position of NAIC secretary-treasurer one year ago.
NAIC officers are elected annually by secret ballot of NAIC members. Commissioner McCarty's position with the NAIC is effective immediately. Along with his new role as vice president with the NAIC, he remains in his capacity as the Florida insurance commissioner.
Photo of NAIC Officers (from left to right): Commissioner Kim Holland of Oklahoma, Secretary-Treasurer; Commissioner Jane Cline of West Virginia, President; Commissioner Susan Voss of Iowa, President Elect; and Commissioner Kevin McCarty of Florida, Vice President.
About the Florida Office of Insurance Regulation
The Florida Office of Insurance Regulation (Office) has primary responsibility for regulation, compliance and enforcement of statutes related to the business of insurance and the monitoring of industry markets. The Office protects Florida consumers through regulatory oversight of: insurance company solvency, policy forms and rates, market conduct performance and new company entrants to the Florida market. For more information about the Office, please visit
www.floir.com. If you would like to review and compare homeowners insurance rates in Florida, go to
www.shopandcomparerates.com.
###