VA Insurance Commissioner Announces Retirement Plans

                               Richmond, VA (CompNewsNetwork) - Virginia Insurance Commissioner Alfred W. Gross, a 30-year veteran of the Bureau of Insurance of the State Corporation Commission (SCC), will retire at the end of the year. Gross, 64, has been the Commissioner of Insurance for 14 years, appointed by the Commission on July 23, 1996.

"It is with mixed emotions that I am making this decision," said Gross. "I am looking forward to retirement with great anticipation. But, it is going to be difficult to part company with the Bureau's highly dedicated and capable staff with whom I have worked since 1981."

SCC Chairman James C. Dimitri, also speaking for Commissioners Mark C. Christie and Judith Williams Jagdmann, said, "Commissioner Gross has been an invaluable asset to the people of the Commonwealth and this Commission in regulating Virginia's insurance industry on behalf of consumers. He has protected Virginia policyholders and worked hard to ensure a healthy, viable and competitive insurance market in the state."

The Bureau of Insurance oversees compliance with Virginia's insurance laws affecting more than 2,500 insurance companies, groups, and plans; and nearly 184,000 insurance agencies and agents.

Commissioner Gross' expertise has been in financial regulation of insurance companies. One of the longest serving state insurance commissioners, he is respected nationally and internationally through his committee leadership positions within the National Association of Insurance Commissioners (NAIC) and the International Association of Insurance Supervisors (IAIS). Most recently, he served as chair of the NAIC's Financial Condition Committee and the IAIS' Technical Committee.

Dimitri commended Commissioner Gross for helping the Commission proceed with a seamless transition during its search for his replacement. "He has provided us ample time to fill some awfully big shoes," said Dimitri. "And, with all of the demands and changes occurring in the insurance marketplace, we are grateful he has built such a solid internal Bureau team to carry on the work of overseeing the insurance industry."

Gross' retirement date will be December 31, 2010. A Chicago native, he is married (Kathleen) and has three grown children and two grandchildren with another expected soon.

Career Highlights

  • Joined the Bureau of Insurance as an insurance examiner in 1981
  • Supervisor of company licensing/regulatory compliance, 1983-1989
  • Deputy Insurance Commissioner of Financial Regulation, 1989-1996
  • Commissioner of Insurance, 1996-present
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