The insurance commissioner for the District of Columbia is stepping down to take a job at a district law firm.[@@]
Lawrence Mirel, who has been the D.C. insurance commissioner since 1999, says he was approached to join the law firm several months ago and has been negotiating his departure since.
Mirel submitted a letter of resignation Aug. 10 and says he expects to join the law firm Oct. 1.
One of Mirel’s accomplishments at the D.C. insurance department was making the district competitive with Vermont in the chartering of captive insurance companies.
Organizations set up captives to avoid paying for insurance from outside companies.
Since the D.C. department was authorized to charter captive insurance companies in 2001, it has issued licenses to 53 captives, according to Mirel’s figures.