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Deadlock broken over new Florida insurance regulator

Deadlock broken over new Florida insurance regulator

Deputy Insurance Commissioner David Altmaier has been named to succeed Florida Insurance Commissioner Kevin M. McCarty.

Friday's decision to appoint Mr. Altmaier came after Florida Gov. Rick Scott and Chief Financial Officer Jeff Atwater — who heads the Department of Financial Services, which includes the Office of Insurance Regulation — and other cabinet members overcame a long deadlock over who should succeed Mr. McCarty. More than 50 candidates sought the job, according to a March report in the Miami Herald.

Mr. McCarty has served as the only appointed insurance commissioner for the Florida Office of Insurance Regulation since it was originally created in 2003. He announced his intention to leave the job in January, but the governor and the chief financial officer could not agree on his replacement, as they must under Florida law.

A spokeswoman for the Office of Insurance Regulation said in an email that “the Cabinet noted that David's appointment was effective immediately and we are working to process the paperwork now.” Although Mr. McCarty initially planned to end his tenure on May 2, the spokeswoman said that he will be staying “on for 60 additional days to assist David.”