National Association of Insurance Commissioner Vice President Jim Poolman has resigned from the groups number two spot, meaning that state insurance commissioners will vote to fill the NAICs top two positions when they meet this week at the fall meeting in Anchorage.
Poolman says he will remain as insurance commissioner of North Dakota and intends to seek re-election on the Republican ticket in November. He says that after the resignation of Ernst Csiszar as NAIC president in mid-August, he had to decide quickly if he wanted the top spot. Csiszar resigned both as NAIC president and South Carolina insurance director to become president of the Property Casualty Insurers Association of America, effective Oct. 4. (See NU, Aug. 23/30.)
Poolman, who has 3 young children, says that last year he traveled 170 days both in and out of state and wants to spend more time with his family. But he says he will remain active at the NAIC.
SMARTthe new federal roadmap draft released on Aug. 20reaffirms the role of state regulators and the NAIC, Poolman says. The State Modernization and Regulatory Transparency Act is a working draft to develop federal tools for regulating insurance.
Poolman adds that he decided to step down right away so the NAIC could elect a new team that could begin work immediately.
The election, set for Sept. 12, will allow the NAIC to move forward quickly with new officers, says Cathy Weatherford, executive vice president and CEO of the NAIC.
Joel Ario, as secretary-treasurer of the NAIC, continues to hold the third leadership post and typically, he would step into the presidency, although any commissioner is eligible to run. But Ario, Oregons insurance administrator, says he most likely will seek the vice president position. The reason, he says, is that his legislature, which meets every other year, is in session next year and the department has an “ambitious agenda.” He says 2006 would be a better year for him to become president.
Filling the ranks will also depend on whether the positions run for 3 months until elections can be held in December or if they will be for 15 months, Ario adds.