NU Online News Service, April 18, 10:12 a.m. EDT
Kevin Clinton, former president and CEO of American Physicians Capital Inc., has been named the new commissioner of the Michigan Office of Financial and Insurance Regulation (OFIR).
Gov. Rick Snyder says Clinton was a special advisor to OFIR before being appointed commissioner. Early in his career Clinton also worked for the Michigan Insurance Bureau, which is now part of OFIR.
The appointment "signals the governor's commitment to promoting a vibrant insurance market in Michigan," said Steve Schneider, Midwest region vice president for the American Insurance Association.
Clinton assumes the role left open last week when Ken Ross announced he was leaving effective April 15. Ross was appointed by then-Gov. Jennifer Granholm in February 2008.
Though Clinton's first priority is to protect consumers, he will also "lead our effort to eliminate burdensome regulations that are preventing the industry from growing," says Snyder. "More insurance companies doing business in the state means more jobs, more competition among insurance companies and banks, and better rates for consumers."
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