Florida Insurance Commissioner Elected In NAIC

Grapevine, TX (CompNewsNetwork) – The Florida Office of Insurance Regulation today announced that Commissioner Kevin McCarty was elected to the position of secretary-treasurer for the National Association of Insurance Commissioners (NAIC). The vote today at the NAIC Winter National Meeting elevates McCarty to an officer position with the NAIC for a 1-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 influential Property & Casualty (C) Committee and the Catastrophe Insurance Working Group.
"I am honored to be elected to serve insurance consumers nationwide as an officer of this prestigious organization," said Commissioner McCarty. "I am confident that my experience and leadership abilities as the insurance commissioner of the fourth most populous state will enable me to be an effective part of the NAIC team that will lead the organization through the challenging times that now are facing our economic marketplaces.
"The current economic downturn in our country affects the financial security of all citizens, and insurance will continue to be a focal point in the coming months. I am a big 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."
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.
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 secretary-treasurer with the NAIC, he remains in his capacity as the Florida insurance commissioner.

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