Wednesday, June 17, 2009

Governor Daniels Names Carol Cutter as New Commissioner of the Indiana Department of Insurance

I was happy to hear of Indiana Governor Mitch Daniels' latest appointment, Deputy Commissioner Carol Cutter to replace outgoing Department of Insurance Commissioner who is moving to the Indiana Utility Regulatory Commission.

Up until the Fall of 2007, I worked as manager of the Title Insurance Division. While my interaction with the other regulatory units within the Department was not extensive, I came away extremely impressed with the professionalism and dedication of so many of the regulators who work at the Department. They take their work seriously, understanding that their role is not only to regulate the industry but to serve the public. Carol has over 30 years experience working in insurance, both in the private sector and in a regulatory capacity.

Carol was one of those impressive regulators. Carol currently serves as Chief Deputy Commissioner for Health and Legislative Affairs. According to the Governor's press release, she led efforts to eliminate an 18-month backlog of rate and form filings for health, life, and property/casualty products in her first two years on the job. The release also touts that Cutter helped establish a self-certification process for life and annuity rate and form filings to allow for a faster turnaround for approval of those insurance products for marketing.

As someone involved in politics, I certainly don't begrudge the Governor when he appoints individuals with more of a political than a regulatory background to various agency heads. In fact, doing so often brings fresh ideas and a broader perspective to government service. But having said that, the Governor is right to also consider as potential agency heads those career professionals who are doing stellar jobs and deserve to be considered for the top spot. I think the insurance industry will be extremely pleased with the leadership Carol Cutter will bring to the Department of Insurance.

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