Difference between revisions of "Florida Commissioner of Insurance Regulation"

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==Authority==
 
==Authority==
The office of insurance commissioner is established by state law.<ref name="20-121">[http://leg.state.fl.us/statutes/index.cfm?mode=View%20Statutes&SubMenu=1&App_mode=Display_Statute&Search_String=Commissioner+of+Insurance+Regulation&URL=0000-0099/0020/Sections/0020.121.html ''Florida Statutes'', "20.121," accessed September 1, 2011.]</ref>
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The office of insurance commissioner is established by state law.<ref name="20-121">[http://leg.state.fl.us/statutes/index.cfm?mode=View%20Statutes&SubMenu=1&App_mode=Display_Statute&Search_String=Commissioner+of+Insurance+Regulation&URL=0000-0099/0020/Sections/0020.121.html ''Florida Statutes'', "20.121," accessed September 1, 2011]</ref>
  
 
'''Florida Statutes, 20.121'''
 
'''Florida Statutes, 20.121'''
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*Government Affairs
 
*Government Affairs
 
*Market Investigations
 
*Market Investigations
*Property and Casualty Product Review<ref>[http://www.floir.com/Office/Business_Units.aspx ''Florida Office of Insurance Regulation'', "Business Units," accessed September 1, 2011.]</ref>
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*Property and Casualty Product Review<ref>[http://www.floir.com/Office/Business_Units.aspx ''Florida Office of Insurance Regulation'', "Business Units," accessed September 1, 2011]</ref>
  
 
==State budget==
 
==State budget==
The budget for the Office of Insurance Regulation in Fiscal Year 2013-2014 was $26,717,346.<ref>[http://floridafiscalportal.state.fl.us/PDFDoc.aspx?ID=8401 '''Florida Fiscal Portal''' "Senate Bill 1500 - Laws of Florida Chapter 2013-040," 316-318, accessed June 17, 2013.]</ref>
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The budget for the Office of Insurance Regulation in Fiscal Year 2013-2014 was $26,717,346.<ref>[http://floridafiscalportal.state.fl.us/PDFDoc.aspx?ID=8401 '''Florida Fiscal Portal''' "Senate Bill 1500 - Laws of Florida Chapter 2013-040," 316-318, accessed June 17, 2013]</ref>
  
 
==Compensation==
 
==Compensation==
  
 
===2013===
 
===2013===
In 2013, the commissioner received [[Compensation of state executive officers|a salary of $133,158.]] This figure comes from the [[Council of State Governments]].<ref>[http://knowledgecenter.csg.org/kc/system/files/4.11_2013.pdf ''The Council of State Governments'', "Book of the States 2013, Table 4.11," accessed February 2, 2014.]</ref>
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In 2013, the commissioner received [[Compensation of state executive officers|a salary of $133,158.]] This figure comes from the [[Council of State Governments]].<ref>[http://knowledgecenter.csg.org/kc/system/files/4.11_2013.pdf ''The Council of State Governments'', "Book of the States 2013, Table 4.11," accessed February 2, 2014]</ref>
  
 
===2010===
 
===2010===

Latest revision as of 08:27, 26 March 2014

Florida Commissioner of Insurance Regulation
General information
Office Type:  Nonpartisan
Office website:  Official Link
2013-2014 FY Budget:  $26,717,346
Term limits:  None
Structure
Length of term:   Unspecified
Authority:  Florida Statutes, 20.121
Selection Method:  Appointed by the Florida Financial Services Commission
Current Officeholder

Kevin McCarty.jpg
Name:  Kevin McCarty
Assumed office:  January 2003
Compensation:  $133,158
Other Florida Executive Offices
GovernorLieutenant GovernorSecretary of StateAttorney GeneralChief Financial OfficerCommissioner of EducationAgriculture CommissionerInsurance CommissionerEnvironmental Protection SecretaryEconomic Opportunity DirectorPublic Service Commission
The Florida Commissioner of Insurance Regulation is a state executive position in the Florida state government. The commissioner heads the Florida Office of Insurance Regulation, which regulates the state's insurance providers. He or she is appointed by the Florida Financial Services Commission, an independent panel composed of the governor, attorney general, and several other state executive officers.[1]

Current officeholder

The current commissioner is Kevin McCarty, who was first appointed in January 2003. McCarty is the first person to hold the office, which was created following a constitutional amendment that restructured the state's executive department in 1998.

McCarty has worked for the Florida Department of Insurance and its successor, the Office of Insurance Regulation, since 1991. He began his career in public service in 1988 in the Florida Department of Labor & Employment Security, where he worked on workers' compensation issues. He served as President of the National Association of Insurance Commissioners in 2012, and chaired a number of NAIC task forces. McCarty has also represented the United States in the International Association of Insurance Supervisors.[2]

Authority

The office of insurance commissioner is established by state law.[3]

Florida Statutes, 20.121

The head of the office of Insurance Regulation is the Director of the office of Insurance Regulation, who may also be known as the Commissioner of Insurance Regulation.

Qualifications

State law requires commissioners to have 5 years of private sector experience in the insurance industry, and 5 years of experience as a senior examiner or employee in a state or federal regulatory agency overseeing the insurance industry. Both of these 5-year periods must have come immediately preceding the person's selection as commissioner.[3]

Florida Statutes, 20.121

Prior to appointment as director, the Director of the office of Insurance Regulation must have had, within the previous 10 years, at least 5 years of responsible private sector experience working full time in areas within the scope of the subject matter jurisdiction of the office of Insurance Regulation or at least 5 years of experience as a senior examiner or other senior employee of a state or federal agency having regulatory responsibility over insurers or Insurance agencies.

Appointments

Florida state government organizational chart

The commissioner is appointed by the Florida Financial Services Commission, an independent state body composed of the governor, attorney general, chief financial officer, and the agriculture commissioner. State law does not prescribe any particular term length for the commissioner.[3]

Florida Statutes, 20.121

Prior to appointment as director, the Director of the office of Insurance Regulation must have had, within the previous 10 years, at least 5 years of responsible private sector experience working full time in areas within the scope of the subject matter jurisdiction of the office of Insurance Regulation or at least 5 years of experience as a senior examiner or other senior employee of a state or federal agency having regulatory responsibility over insurers or Insurance agencies.

Term limits

There are no term limits associated with the office of insurance commissioner.

Vacancies

There is no particular procedure for dealing with vacancies in the office of insurance commissioner.

Duties

The commissioner of insurance regulation is the administrative head of the Office of Insurance Regulation, which licenses insurance companies operating in Florida, and regulates their rates, market conduct, claims, solvency and other business practices.

Divisions

  • Company Admissions
  • Life and Health Financial Oversight
  • Market Research and Technology
  • Specialty Product Administration
  • Legal Services
  • Life and Health Product Review
  • Property and Casualty Financial Oversight
  • Communications
  • Government Affairs
  • Market Investigations
  • Property and Casualty Product Review[4]

State budget

The budget for the Office of Insurance Regulation in Fiscal Year 2013-2014 was $26,717,346.[5]

Compensation

2013

In 2013, the commissioner received a salary of $133,158. This figure comes from the Council of State Governments.[6]

2010

In 2010, the commissioner received a salary of $133,158.

His salary is determined by law.

Historical officeholders

Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders. That information for the Florida Commissioner of Insurance Regulation has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.

Recent news

This section displays the most recent stories in a google news search for the term Florida + Commissioner + Insurance + Regulation + McCarty

All stories may not be relevant to this page due to the nature of the search engine.

Florida Commissioner of Insurance Regulation News Feed

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Contact info

Address:
200 E. Gaines Street
Tallahassee, FL 32399
Phone: (850) 413-3140

See also

External links

References