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Former Nebraska Sen. Nelson new CEO of insurance regulator group
January 22, 2013 / 3:47 PM / 5 years ago

Former Nebraska Sen. Nelson new CEO of insurance regulator group

* Will run National Association of Insurance Commissioners

* Previously worked at NAIC in the 1980s

* Ran an insurance company before terms as governor, senator

Jan 22 (Reuters) - Ben Nelson, the former Nebraska senator and governor who spent most of his career in insurance regulation and management, on Tuesday was named chief executive of the National Association of Insurance Commissioners.

Nelson is a former chief of staff for the NAIC, which helps establish and coordinate regulations at the state level. The organization has been searching for a permanent CEO since last November, when Therese Vaughan resigned.

Nelson recently left the U.S. Senate after two terms, which was preceded by two terms as Nebraska’s governor. He served as the state’s top insurance regulator in the mid-1970s and later ran an insurance company before joining the NAIC in the early 1980s.

“In my new role, I look forward to continuing our relationship with the Federal Insurance Office as well as working with state regulators on matters affecting the economy and consumers,” Nelson said in a statement.

The Federal Insurance Office, created by the Dodd-Frank financial reforms, is a year overdue with its report on the future of insurance regulation. One of the issues the office has been considering is whether an entirely state-based system of regulation is the best approach for the industry. (Reporting by Ben Berkowitz; Editing by Dan Grebler)

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