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CU System
Insurance exec to head Michigans OFIR
LANSING, Mich. (4/19/11)--Michigan Gov. Rick Snyder Friday appointed R. Kevin Clinton, a former insurance executive, as commissioner of the state's Office of Financial and Insurance Regulation. Clinton is the former president/CEO of American Physicians Capital Inc., a medical liability insurer in East Lansing. He replaces Ken Ross, who left the position Friday (Crain's Detroit Business and Lansing State Journal April 15). "Kevin Clinton brings a wealth of insurance experience to the post of OFIR commissioner, and we are looking forward to bringing him up to speed on the needs of Michigan's 322 credit unions," said Michigan Credit Union League CEO David Adams. "We've had a great working relationship with his predecessor Ken Ross and John Kolhoff, deputy commissioner for the credit union division, and hope to continue the mutually beneficial dialogue among the regulatory agency, the trade association and our credit unions." Clinton said his top goal is to reduce insurance rates by fostering more competition among insurance companies and reducing unnecessary regulations. Snyder said Clinton's first priority would be to "make sure consumers are protected by making sure financial institutions are sound" and that Clinton would lead the state's effort to "eliminate burdensome regulations that are preventing the industry from growing." OFIR oversees and regulates credit unions, banks, insurance companies and agents, health maintenance organizations, investment advisors, consumer lenders and securities broker-dealers and agents.


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