Florida’s insurance regulator’s tenure could be coming to an end after more than a decade as the newly re-elected governor looks to shake up his administration by replacing the heads of state agencies.

Rumors have been circulating that Insurance Commissioner Kevin McCarty may not survive the transition into Governor Rick Scott’s second term. And Scott’s office isn’t exactly stopping them.

The News Service of Florida reported that in a letter to CFO Atwater on Tuesday, Scott wrote that he hoped the Cabinet could “begin a search for new leadership” at the Office of Insurance Regulation, the Office of Financial Regulation and the Department of Revenue.

Scott’s spokesperson Jackie Schutz said it is important for a governor to have new leaders and new ideas heading into a second term. While not addressing McCarty specifically, Schutz laid out the rationale for finding a replacement for McCarty.

“Executive office positions are not lifetime appointments and for the same reason there are term limits in elected office, it is important to search for the best newest ideas whenever possible,” said Schutz.

“In regard to the Office of Insurance Regulation, we have no announcements at this time,” said Schutz, in what some see as a signal that a change is coming.

Industry representatives are reticent to discuss McCarty, perhaps not wanting to risk antagonizing either McCarty or the next commissioner.

When asked, industry representatives said it is not a matter of one choice or one decision that McCarty has made that got him to this point. Most just say McCarty’s fate is the product of years of unpopular decisions.

Several industry representatives said, “It’s time.”

McCarty is not the only state official whose job is up for grabs.

 

Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial & Life & Financial products as well.

http://www.insurancejournal.com/news/southeast/2015/01/20/354497.htm

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