Chicago —Therese (Terri) Vaughan has been named CEO of the Kansas City, Mo.-based National Association of Insurance Commissioners (NAIC).
Effective Feb. 18, Vaughan will operate from the association’s Washington, D.C. headquarters and be tasked with representing the interests of state regulators as the issue of how insurance companies are regulated is in flux.
“Terri knows state insurance regulation and she knows the NAIC,” says NAIC President and New Hampshire Insurance Commissioner Roger Sevigny. “As a former regulator, she already understands our membership’s needs. We are fortunate to have such a dynamic new leader at this critical time in our nation’s history.”
Vaughan’s roots in the insurance industry run deep, having earned a Ph.D. in risk and insurance from The Wharton School at the University of Pennsylvania and a bachelor’s degree in insurance and economics from the University of Iowa. Following 10 years as Iowa Insurance Commissioner, Vaughan was the Robb B. Kelley Distinguished Professor of Insurance and Actuarial Science at Drake University, a position she held since January 2005.
News of Vaughan’s appointment is being hailed in many sectors of the insurance industry. Even those supporting an optional federal charter (OFC) for insurers—a move NAIC stridently opposes—are complementing the selection.
“AIA and our member companies congratulate Commissioner Vaughan on her appointment to lead the NAIC,” says Leigh Ann Pusey, incoming president of the American Insurance Association (AIA). “She brings a high-level of knowledge and experience to the role that is both necessary and welcome during these challenging times.”
More traditional allies such as OFC opponent the National Association of Mutual Insurance Cos. (NAMIC) are also lauding the pick.
“We look forward to working with Dr. Vaughan again in her new role,” says Neil Alldredge, NAMIC vice president – state and policy affairs. “She is coming to the NAIC when state regulation faces many challenges; her experience will serve her well in meeting those challenges. NAMIC encourages her to embrace an agenda of reform and to bring more transparency to NAIC. Terri has a proven track record and is well suited to lead the NAIC.”
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