NU Online News Service, Jan. 2, 2:28 p.m. EST
After less than a year in office, South Carolina's Director of Insurance, R. David Black, abruptly resigned.
Black, the former president and chief executive officer of Liberty Life Insurance Co. inGreenville,S.C., left the department on Dec. 28.
In a statement from Gov. Nikki Haley's office, Black was praised for his efforts to make the South Carolina Department of Insurance "more effective and efficient," but gave no reason for his departure.
Gwendolyn Fuller McGriff, acting deputy director of financial services and general counsel for the department, was named interim director. The 16-year veteran of the department also served as acting director in 2004.
Black, 54, replaced Scott Richardson, who served as director under former Gov. Mark Sanford.
While no explanation for Black's resignation was given, several press reports suggest that the director was unhappy with the direction the state was taking in setting up health-insurance exchanges.
One report says insurance insiders in the state were baffled by the news, with one individual saying there was nothing to indicate Black was unhappy in his post.
Another report from "The Post and Courier," suggests that he resigned to avoid being caught up in an investigation about how the state spent federal funds from the health care reform act.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
