A day after the National Association of Insurance Commissioners announced former U.S. Sen. Ben Nelson (D-Neb.) will be the organization’s new CEO, several industry groups have commented on the appointment.

David Sampson, president and CEO of the Property Casualty Insurers Association of America (PCI), today said of the selection: “[Nelson’s] experience as an insurance company executive, regulator and governor gives him unique qualities, experience and credibility for this position. He has a deep understanding of the state-based U.S. regulatory system and how successful it has been in serving insurance consumers. As the NAIC faces complex issues of global and national regulatory convergence, his experience and background will be vital in navigating the landscape,” said Sampson. “We look forward to working with him in his new role,” he added.

Dirk Kempthorne, president and CEO of the American Council of Life Insurers (ACLI), spoke of Nelson’s political affiliation with democrats and his ability to work across the aisle.

“His knowledge of our industry and the issues we face is first-rate. During his tenure in the Senate, Ben always worked to reach across the partisan divide in an effort to reach consensus. He listens to all points of view, genuinely cares about consumers and had dedicated himself to improving the quality of life of all the people of his state and our nation,” said Kempthorne.

“I’ve known Ben for many years. He is a Democrat and I’m a Republican, but we never let party difference affect our common goal to do the right thing for the people we represented. We worked together on many issues and I greatly value the friendship and mutual respect we developed,” he added.

The Insured Retirement Institute (IRI) also commented on Nelson.

“Having personally served as the CEO of the NAIC for 12 years, I know that his knowledge of these issues, the insurance marketplace and its regulatory oversight mechanisms—at both the federal and state levels—will be a vital asset to state insurance commissioners, to market participants, and consumers. Senator Nelson’s appointment to this post should be welcome news to all,” said IRI CEO Cathy Weatherford.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access