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Therese M. Vaughan will step down as CEO of the National Association of Insurance Commissioners during the first quarter of 2013, the NAIC said last week.
She cited family obligations and the desire to revise a textbook as reasons for leaving the post.
“It is with mixed emotions that I announce my departure from an organization that has been part of my life for the better part of the past two decades,” Ms. Vaughan, who was the longest-serving insurance commissioner in Iowa history and past NAIC president, said in a statement.
“I am especially proud of the work we've accomplished in the areas of U.S. solvency modernization and global insurance regulation,” she said.
“Terri led the NAIC through a tumultuous period following the global economic crisis of 2008,” NAIC President and Florida Insurance Commissioner Kevin M. McCarty said in the statement. “We have been fortunate to have had Terri during this critical time and wish her well in her future endeavors. She will be greatly missed.”
NAIC officers plan to conduct a national search to find a successor to Ms. Vaughan.