Nevada Insurance Commissioner To Retire

Carson City, NV  (CompNewsNetwork) - Longtime Nevada Insurance Commissioner Alice A. Molasky-Arman has decided to retire effective September 7, 2008, Governor Jim Gibbons announced Friday.

“My decision to leave the Division was a difficult one, but I am privileged to have worked with such a highly dedicated and capable staff at the Division,” Molasky-Arman said. “I am confident that the Division will be left in good hands after my departure.”

Molasky-Arman was appointed commissioner on January 6, 1995 by Governor Bob Miller. Her service extended through Governor Kenny Guinn’s administration and continued under Governor Gibbons. She has served longer than any insurance commissioner in Nevada’s history, and is currently one of the longest-serving commissioners in the Nation.

“Alice has dedicated more time to the service of the people of Nevada than many people ever would,” Governor Gibbons said. “Her work has protected Nevadans and ensured a more stable insurance network in the state. I thank her for her service.”

Substantial changes have evolved the insurance market since Molasky-Arman’s appointment. She took a leading role when Nevada’s bankrupt industrial insurance system (SIIS) became a successful private mutual insurer known as Employers Insurance Company of Nevada (EICON) during Nevada’s transition toward a competitive workers’ compensation environment.

Molasky-Arman approved the reorganization of EICON to become a mutual holding company in 2005. In 2006, she approved the conversion of EIG Mutual Holding Company, the parent company of EICON, to become a publicly traded stock company to be known as Employers Holdings, Inc. (Employers).

Employers and its subsidiaries offer workers’ compensation insurance to small, main street businesses engaged in low-to-medium hazardous industries. Licensed in 15 states, the companies have flourished and are a leading provider of workers’ compensation insurance.

In 2002, Molasky-Arman addressed the medical malpractice insurance availability crisis by forming the Medical Liability Association of Nevada (MLAN), an essential insurance association. MLAN was in operation within six weeks after its formation and quickly became a viable source for doctors seeking medical malpractice insurance.

Molasky-Arman has gained national attention for programs to combat insurance fraud. She developed a statewide media campaign warning consumers about the dangers of unlicensed insurers, which was ultimately used as a model for the development of a national “fake insurance” awareness campaign.

Molasky-Arman is the recipient of many awards, which highlight some of her many successes and accomplishments. In April 2006, the Nevada State Medical Association acknowledged her with the “Presidents Award” for her dedication and contributions to the regulation of insurance. This Award is the highest honor bestowed by the NSMA.

In March 2006, she was honored by the Southern Nevada Chapter of the National Association of Women Business Owners (NAWBO) with a “Woman of Distinction” award. She received the “Nevada Captive Insurance Person of the Year” award in September 2005. In June 2004, she received a similar honor as “Insurance Person of the Year.” She was also selected as one of the “Influential Businesswomen of Southern Nevada” for 2004 by In Business Las Vegas.

“Alice has been a tremendous asset to this state, and we’re all very sorry to see her retire,” said Mendy Elliott, director of the Nevada Department of Business and Industry. “We will be launching a nationwide search to find a new insurance commissioner, and hope to have that person ready to begin upon Alice’s retirement in September.”

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