NAIC Elects Raymond Farmer Secretary-Treasurer

By Allison Bell

May 15, 2017 at 12:50 PM

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A group near the center of the health insurance and annuity regulatory firestorms has picked a new officer.

Members of the National Association of Insurance Commissioners, a Kansas City, Missouri-based group for U.S. insurance regulators, have elected Raymond Farmer to be the NAIC's new secretary-treasurer.

Farmer, the South Carolina insurance commissioner, succeeds Texas Insurance Commissioner David Mattax. Mattax died April 13.

(Related: Texas Insurance Commissioner Dies at 60)

Farmer has a bachelor's degree in insurance from the University of Southern Mississippi and a law degree from John Marshall Law School.

Farmer worked for the American Insurance Association, a property and casualty insurance group, for years.

He has also worked as the deputy insurance commissioner in charge of the enforcement division in Georgia.

Former South Carolina Nikki Haley, a Republican, appointed Farmer to be the South Carolina commissioner in November 2012. Haley is now President Donald Trump's ambassador to the United Nations.

Farmer has been one of the leaders in NAIC efforts to develop a cybersecurity model for insurers. He has also been active in NAIC efforts to look at the flood insurance programs set up by surplus lines carriers.

— Read South Carolina to Let Insurers Extend Policies on ThinkAdvisor.