Florida Insurance Commissioner Kevin McCarty Honored at Florida Insurance Market Summit
Date Published: 04-05-2016
Florida Insurance Commissioner Kevin McCarty was bestowed with the inaugural "Legacy of Leadership" Award at the 2016 Florida Insurance Market Summit, hosted this past March by Colodny Fass, Guy Carpenter, the Property Casualty Insurers Association of America (PCI) and dozens of other sponsors.
A packed ballroom of global representatives from the insurance and reinsurance industry greeted Commissioner McCarty for the gala evening, which included entertaining reflections and praise of Commissioner McCarty's career by PCI Senior Vice President Paul Blume, Guy Carpenter Chairman Britt Newhouse, Deputy Insurance Commissioner Belinda Miller and others who have worked closely with him during his 12 years regulating one of the nation's most tumultuous markets.
Emceed by Colodny Fass Managing Partner Mike Colodny, the event was highlighted by an appearance from Tom Gallagher, who served as Florida Insurance Commissioner when Hurricane Andrew hit Florida in 1992, and whose recommendation backed McCarty as his successor.
"Not only did Commissioner McCarty serve during some of Florida's most volatile and destructive hurricane seasons, but throughout that time, he has been recognized as a consumer champion, balanced with a fair and even hand in regulatory compliance," Mr. Colodny said.
Florida Insurance Commissioner Kevin McCarty announced his resignation on January 5, 2016, effective May 2, 2016.
He noted, "I am looking forward to exploring new opportunities that will allow me to use the skills, knowledge and expertise I've gained as Insurance Commissioner. In the meantime, I will continue my service and provide whatever assistance is desired to facilitate a smooth transition."
McCarty has served as the only appointed Insurance Commissioner for the Florida Office of Insurance Regulation since it was originally created in 2003.
"The privilege of serving the people of Florida as Insurance Commissioner has been the highlight of my professional career," Commissioner McCarty said. "I am proud of the tremendous accomplishments achieved during my tenure and am grateful to the outstanding and talented staff at the Office of Insurance Regulation who made them possible. It has been an honor to work with various Florida governors, cabinet members, legislators and industry stakeholders in meeting the many challenges faced by our state over the last 12 years."
A replacement for McCarty has not yet been named. Meanwhile, the selection process stalled until April or perhaps longer after Florida Governor Rick Scott and CFO Jeff Atwater came to an impasse on whether to hire former Iowa Insurance Commissioner and current Florida State Representative Bill Hager, or Jeffrey Bragg, former head of the federal Terrorism Risk Insurance Program.
For more information about the Florida Insurance Market Summit, go to: www.FloridaInsuranceSummit.com