National Association Of Insurance Commissioners Executive Vice President And CEO Leaves Association

Kansas City, MO  (CompNewsNetwork) - Catherine J. Weatherford, Executive Vice President and CEO of the National Association of Insurance Commissioners (NAIC) for the past 12 years, announced today that she will be leaving the association. It is anticipated Weatherford will continue to serve the association as a consultant through the 2008 Fall National Meeting.

“I am proud of the accomplishments NAIC members have made during my tenure at the NAIC — especially in areas that have resulted in stronger consumer protections, regulatory modernization and more effective financial regulatory oversight,” Weatherford said. “It has been an honor to lead a staff of 426 in Kansas City, Washington, D.C., and New York City. I have served for many years in the area of state insurance regulation and now I am ready for a change. I always try to keep an open mind about what the future holds and I have an interest in many other areas, so I will pursue another professional career. While my decision to leave the NAIC was not an easy one, I know I am leaving the Association in capable hands.”

NAIC President and Kansas Insurance Commissioner Sandy Praeger commended Weatherford for her many accomplishments, as the longest-serving Executive Vice President in the Association’s history.

“We have appreciated Cathy’s outstanding leadership, as well as the professionalism and attention she placed on service to members,” Praeger said. “As a former insurance commissioner from Oklahoma, Cathy was able to anticipate the needs of our members and act quickly to accommodate. She will be missed.”

A national search will be conducted to find her replacement. Andrew Beal, Deputy Executive Vice President and Chief Legal Officer, has been named Acting Executive Vice President and CEO.

About the NAIC

Headquartered in Kansas City, Mo., the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and five U.S. territories. The NAIC’s overriding objective is to assist state insurance regulators in protecting consumers and helping maintain the financial stability of the insurance industry by offering financial, actuarial, legal, computer, research, market conduct and economic expertise. Formed in 1871, the NAIC is the oldest association of state officials. For more than 135 years, state-based insurance supervision has served the needs of consumers, industry and the business of insurance at-large by ensuring hands-on, frontline protection for consumers, while providing insurers the uniform platforms and coordinated systems they need to compete effectively in an ever-changing marketplace. For more information, visit www.naic.org/press_home.htm.

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