Florida Official to Fill NAIC Vice President Vacancy
Altmaier has led a committee involved with a variable annuity captive reinsurance update.
The regulator members of the National Association of Insurance Commissioners (NAIC) have elected David Altmaier to be the NAIC’s vice president.
Altmaier has been the commissioner in Florida since 2016.
(Related: Eric Cioppa to Lead State Insurance Regulator Group)
Altmaier runs the Florida Office of Insurance Regulation, an agency with a staff of 292.
He is also the 2019 chair of the NAIC’s Financial Condition Committee. That committee has been overseeing efforts by the committee’s Variable Annuities Issues Working Group to update the NAIC’s framework for regulating variable annuity captive reinsurance transactions.
In August, at the NAIC’s summer national meeting in Boston, Altmaier led Capital Adequacy Task Force discussions about a trade agreement concerning regulation of insurance and reinsurance in the United States and the European Union.
Gordon Ito of Hawaii was on track to serve as the NAIC’s vice president this year, but Hawaii Gov. David Ige replaced Ito with Colin Hayashida — a longtime Hawaii Insurance Division rate and policy analyst — effective Jan. 1.
Ito, who had been serving as the head of the Hawaii Insurance Division since 2010, is now serving as the division’s chief deputy insurance commissioner.
The NAIC is a group for the top insurance regulators in all 50 states, the District of Columbia, and U.S. territories.
States often use NAIC model laws, regulations, procedures and other support materials when developing their own insurance laws, regulations and support materials.
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