Michigan Governor Jennifer M. Granholm Appoints Ken Ross
Lancing, MI (CompNewsNetwork) - Michigan
Governor Jennifer M. Granholm announced the appointment of Ken Ross as Office of
Financial and Insurance Services (OFIS) commissioner.
knowledge of complex financial and insurance issues and his tireless work as a public
servant will ensure that OFIS continues to serve Michigan's citizens," Granholm
said. "As commissioner, he will use his successful leadership skills and expertise
to ensure that the agency continues to provide fair but firm regulation along with a high
degree of consumer protection."
Ross, 40 of Dewitt, most recently served as
OFIS acting commissioner, and prior to that appointment, he served as OFIS deputy
commissioner for policy. Before coming to OFIS, Ross served as vice president of
regulatory and legal affairs for the Michigan Credit Union League
In addition to
Ross's tenure at OFIS and his work at the MCUL, his previous experience includes serving
as an assistant attorney general under Attorneys General Frank J. Kelley and Jennifer M.
Granholm. Previously, Ross served as a member of the DeWitt city council and as mayor
pro tem for the city
his law degree with honors from Thomas M. Cooley Law School and his bachelors degree, with
a double major in philosophy and political science, from the University of
The OFIS commissioner
is responsible for the regulation of Blue Cross Blue Shield, 27 HMOs, 139 banks, 169
domestic insurance companies, 233 credit unions, 1,303 foreign insurance companies, 1,750
investment advisers, 2,100 securities broker-dealers, 7,772 consumer finance lenders,
146,419 insurance agents, and 115,000 securities agents.
was one of the first states to coordinate regulation banking, insurance, and securities
industries under the federal Financial Services Modernization Act of
Ross's appointment is
effective immediately; he replaces Linda Watters who resigned in October.
Earlier this month, Governor Granholm signed Executive Order 2008-2, renaming
the Office of Financial and Insurance Services (OFIS) the Office of Financial and Insurance
Regulation (OFIR), effective April 6, 2008, and establishing the position of a new state
insurance consumer advocate that will fight for affordable, reliable, and fair home and car
insurance in Michigan. The consumer advocate position has not yet been filled but
will be announce soon.
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