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New insurance commissioner to protect consumers, build industry
April 15, 2011
April 15, 2011
Contact: Sara Wurfel
LANSING, Mich. - Kevin Clinton will work to protect consumers and make Michigan more business friendly by streamlining regulations as the new head of the Office of Financial and Insurance Regulation, Gov. Rick Snyder announced today.
In that role, Clinton will oversee the state agency charged with protecting consumers by ensuring insurance companies are financially solvent and able to pay claims. OFIR is also responsible for regulatory and investigative programs needed to make sure financial institutions are safe and reliable.
"Ensuring we have a strong, stable financial sector is one the most important factors of job growth," Snyder said. "As the new insurance and banking commissioner, Kevin Clinton's first priority is to make sure consumers are protected by making sure financial institutions are sound. He will also lead our effort to eliminate burdensome regulations that are preventing the industry from growing. More insurance companies doing business in the state means more jobs, more competition among insurance companies and banks, and better rates for consumers."
Clinton has a long career in the insurance industry. Currently a special advisor at OFIR, Clinton previously served as President and CEO of East Lansing based American Physicians Capital, Inc. During his tenure the company's rating was upgraded to "Excellent." In 2010 he led a successful merger between AP Capital and the Doctors Group.
Early in his career, Clinton worked for the state's Insurance Bureau, which is now part of the Office of Financial and Insurance Regulation he will now head as commissioner.
Clinton earned a bachelor's degree in business administration and a master's degree in actuarial science from the University of Michigan. He is a Fellow in the Casualty Actuarial Society.