Tuesday, February 03, 2009

NAPSLO President Praises NAIC CEO Pick

The appointment of former Iowa Insurance commissioner and NAIC President Therese Vaughan as the Chief Executive Officer of the NAIC appears to be the “right action, with the right person, at the right time, at the right place,” stated NAPSLO president John Wood.

Vaughan, who will be based in the NAIC’s offices in Washington, D.C., holds a doctorate degree from the Wharton School of the University of Pennsylvania, is currently a professor of insurance and actuarial science at Drake University in Des Moines, Iowa. She served as Iowa Insurance Commissioner for 10 years (1995-2005) and NAIC president in 2004 and her appointment “brings credibility and knowledge to her new NAIC role and will be a strong advocate before Congress and the administration for the cause of state insurance regulation,” Mr. Wood added.

With Congress now considering a complete restructuring of the regulation of financial services, “the need for state insurance regulators to have a knowledgeable and articulate voice to educate Congress on how state regulation functions and how consumers benefit from it, has never been greater,” Mr. Wood said.

“On behalf of NAPSLO and its entire membership, I offer Dr. Vaughan our congratulations on her appointment as CEO of the NAIC and pledge NAPSLO’s best efforts to work with her and her colleagues as she advances the cause of state insurance regulation, Mr. Wood stated.

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