Iowa insurance commissioner stepping down

Iowa Insurance Commissioner Nick Gerhart will resign effective Dec. 23, replaced on an interim basis by Deputy Commissioner Doug Ommen, Iowa Gov. Terry Branstad said. 

Mr. Gerhart was named the state’s insurance commissioner in 2012, after serving as the vice president of compliance and regulatory affairs at Sioux Falls, South Dakota-based Sammons Financial Group. Previously, he served as the vice president of compliance communications and associate general counsel at American Equity Investment Life Insurance Co. in Des Moines, Iowa.

Gov. Branstad thanked Mr. Gerhart for his service as insurance commissioner. “He is a bright and talented individual who focused on protecting the public while making the industry better and more competitive in our state,” he said in a statement. “I want to wish him the best in his future endeavors.”

He also praised Mr. Ommen for taking on his new role. Mr. Ommen has served as deputy insurance commissioner in Iowa since 2013 and was previously Missouri’s insurance commissioner under Gov. Matt Blunt. 

“Doug is a seasoned attorney and insurance regulator who has over 30 years of experience in public service and I’m confident in his ability to lead the Iowa Insurance Division in the interim role,” Mr. Branstad said.

No timeframe was announced for the naming of a permanent replacement.