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District of Columbia Replaces Insurance Commissioner

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The District of Columbia has named a new regulator to oversee insurance.

D.C. Mayor Muriel Bowser has appointed Karima Woods to be the acting commissioner of the D.C. Department of Insurance, Securities and Banking.

(Related: NAIC Creates a Retirement Security Working Group)

Woods succeeds Stephen Taylor.

Woods has been director of business development and strategy in the D.C. Office of the Deputy Mayor for Planning and Economic Development since 2015.

Woods has a bachelor’s degree from the University of California at Santa Barbara and a master’s degree in business from George Washington University.

D.C. officials have given no information about Taylor’s departure from that post.

Taylor could not immediately be reached for comment.

Taylor has been the chair of the new Retirement Security Working Group at the National Association of Insurance Commissioners (NAIC). The working group is part of the NAIC’s Life Insurance and Annuities Committee.

Under NAIC bylaws, the parent committee has the right to name a new chair for the working group. D.C.’s new chief insurance regulator will have the right to serve on the working group but may or may not be the chair of the working group.

— Read Jill Froment to Lead NAIC’s Life and Annuities Committee, on ThinkAdvisor.

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