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Interim commissioner named to lead D.C. insurance department


Chester McPherson has been named acting commissioner of the District of Columbia's Department of Insurance, Securities and Banking effective immediately, Mayor Vincent Gray's office announced Tuesday.

Mr. McPherson has served as interim commissioner since November, after his predecessor claimed he had been ousted after he made statements critical of President Barack Obama's announcement that cancelled health insurance policies can be extended for one year, according to published reports.

Before being named interim commissioner, Mr. McPherson served as the deputy commissioner for the insurance department's market operations.

“Chester McPherson has ably and successfully led the Department of Insurance, Securities and Banking since November and I am pleased to announce that he will continue in this role,” said Mayor Gray in a statement. “Chester's financial regulatory experience both locally and on the federal level combined with his work on the city's critical financial services and insurance issues has demonstrated his ability to continue as the head of this agency.”