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The Nationwide Affiliation of Insurance coverage Commissioners (NAIC) of the US, a standard-setting and regulatory assist organisation, has named Gary Anderson as its new CEO.
Anderson, who’s presently serving because the Massachusetts Insurance coverage Commissioner, will assume his new function at NAIC by 1 Could 2024, following the completion of his service in Massachusetts.
Appointed as Commissioner of Insurance coverage by then Massachusetts Governor Charlie Baker in 2017, Anderson’s profession in insurance coverage started in 1999 with a regional provider within the north-western US.
He has since held varied positions, together with as a coverage adviser and senior counsel within the Massachusetts State Senate President’s workplace.
Throughout his tenure, Anderson was accountable for shaping insurance policies to manage healthcare prices and deal with monetary companies sector points.
In February 2014, Anderson joined the Massachusetts Division of Insurance coverage as First Deputy Commissioner, the place he was accountable for planning and coverage improvement.
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His present roles embody Secretary of the Northeast Zone and membership on a number of committees inside the NAIC such because the Monetary Regulation Requirements and Accreditation Committee, Monetary Situation Committee and the Audit Committee.
Moreover, Anderson has been chairing the NAIC Worldwide Insurance coverage Relations Committee since 2019 and has served on the Worldwide Affiliation of Insurance coverage Supervisors (IAIS) Govt Committee as its vice-chair.
He additionally led the IAIS Coverage Growth Committee from 2020 to 2022.
The NAIC gives experience, knowledge and evaluation to insurance coverage commissioners, enabling them to control the business successfully and safeguard shopper pursuits.
It’s ruled by chief insurance coverage regulators from the 50 states, the District of Columbia and 5 US territories.
NAIC president and Connecticut Insurance coverage Commissioner Andrew Mais stated: “We stay up for his [Anderson’s] management as we navigate the complexities of regulating the insurance coverage sector and ship on our mission to guard customers.”
Anderson added: “All through my profession in public service, I’ve been rewarded with priceless experiences, new and lasting connections, and alternatives to contribute to a larger good. I’m excited to embark on the following journey as CEO of the NAIC, supporting the state-based system of insurance coverage regulation.”
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