Minnesota Commerce Commissioner Mike Rothman has promoted Tim Vande Hey to deputy commissioner of the Insurance Division for the Commerce Department.
Vande Hey was first appointed assistant commissioner in April 2012, the department announced. He previously served the Wisconsin Office of the Commissioner of Insurance for 14 years, including ten years as an advanced insurance financial examiner and four years as special assistant deputy rehabilitator.
Vande Hey oversees all functions of financial regulation of insurers in Minnesota, including financial analysis, field examinations, actuarial and insurance company licensing. The insurance division also provides organizational oversight of domestic insurers and their holding companies.
Vande Hey has extensive regulatory experience in mergers, acquisitions, licensing, liquidations, and rehabilitation, the department said. He has served as chair of the National Association of Insurance Commissioners (NAIC) Financial Analysis Handbook Working Group and Financial Analysis Research and Development Working Group.
Source: Minnesota Department of Commerce