The resignation of South Carolina's insurance director, Eleanor Kitzman, and the subsequent appointment of State Sen. Scott Richardson, R-Beaufort, shouldn't impact the state's burgeoning captive department, according to the governor's office, although one captive expert cited concerns over a "lack of political stability" in the state.
"Captives is one area [Ms. Kitzman] has done a particularly good job, and that's a focus we expect to continue through the new administration of the department," Joel Sawyer, press secretary to Republican Gov. Mark C. Sanford, told National Underwriter.
Mr. Sawyer continued that the state is facing some "real challenges with regard to coastal insurance right now, largely due to Hurricane Katrina and the effect it's had on the insurance market in every coastal state."
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