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Florida Insurance Commissioner Kevin M. McCarty will step down May 2, the Florida Office of Insurance Regulation announced Tuesday.
Mr. McCarty has served as the only appointed insurance commissioner for the Florida Office of Insurance Regulation since it was created in 2003. He also was president of the National Association of Insurance Commissioners.
The announcement said he is resigning to “pursue other job opportunities” after helping in the transition to a new commissioner.
“I am proud of the tremendous accomplishments achieved during my tenure and am grateful to the outstanding and talented staff at the Office of Insurance Regulation who made them possible,” Mr. McCarty said in the statement.
(Reuters) — As Florida seeks to revive its private home insurance market after almost a decade without a hurricane, homeowners are pouring $6 billion a year in premiums into a new generation of small, in-state insurance companies with an unproven record of withstanding a major hurricane.