Louisiana Insurance Commissioner To Take Over Presidency
Louisiana's Insurance Commissioner Jim Donelon will be the person to head up the National Association of Insurance Commissioners. Donelon takes over the post of NAIC President officially on January 1st, 2013.
“I am pleased to have this opportunity to serve the NAIC and the citizens of Louisiana in this capacity,” said Commissioner Donelon. “Louisiana is a significant consumer of insurance in the national, and even international, marketplace. Through this position, I will be able to engage in the insurance debate on a leadership level, and place Louisiana at the forefront in the study and development of insurance regulation.”
The role of the NAIC is to work with state insurance regulators to decide on both, best practices, and standards, along with the oversight and implementation of any new measures across the country.
Donelon has been a member of the NAIC since becoming Louisiana Insurance Commissioner in 2006, and in the last five years, he chaired the NAIC’s Surplus Lines Task Force. He started out at the Louisiana Department of Insurance back in 2001 when he served as the Chief Deputy Commissioner.
Louisiana plays a major role in the insurance market across America, as we are the fifth largest consumers for surplus lines, and for consumption of Lloyds of London products. Donelon says the reason for that is the many industry that are represented in louisiana like:
- offshore oil and gas exploration
- large port activity
- multiple chemical plants
- high areas of coastal property