Monday, January 11, 2016

Florida Insurance Commissioner McCarty to Resign After 12 Years in Job




This was the recent headline of Florida Insurance news. Insurance commissioner Kevin McCarty has resigned citing the opportunity to pursue other jobs. Quoting Mr. Mccarthy:

“I am looking forward to exploring new opportunities that will allow me to use the skills, knowledge and expertise I’ve gained as Insurance Commissioner. In the meantime, I will continue my service and provide whatever assistance is desired to facilitate a smooth transition,”


McCarthy's tenure as the state's lead Insurance regulator has not always been perceived by the Insurance Industry as "insurance company friendly". while many consumers would argue that this is in their best interest, there is always the possibility that some companies that have left Florida may be attracted back if his replacement is perceived to be friendly to their needs and desires. This could potentially be a good result in a State that suffers from a poor competitive environment and the high rates that result.

Mr. McCarthy's job was not an easy one. Florida continues to be a highly volatile place for Insurance companies who are constantly dealing with storms and sinkhole losses, high exposures to catastrophic loss and angry investors. On the other side are consumers who are left dealing with a fickle insurance industry that is perceived as raising rates unfairly and arbitrarily and cancelling policies for no reason. Hopefully the next commissioner can help improve the relationship between consumers, agents and companies.

The staff of Bauknight Insurance wishes Mr. McCarthy much success in the future and thanks him for his service to the Insurance Industry.

Bauknight Insurance operates two Counties in Florida, Hudson, FL (727) 863-5641 and Bauknight Insurance, 10488 Spring Hill Drive, Spring Hill, Fl 34607 (352)-686-0612. They also offer coverage throughout Florida on their website or by calling them direct.

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