Utah Insurance Commissioner Kent Michie has appointed two new directors, created a new division and combined two other divisions.
“The main thrust of these changes has been to create a new Market Conduct Division,” reported Commissioner Michie. “This follows the national trend of other insurance departments and will make it easier for us to coordinate investigations and administrative actions.”
The new division will bring together eight market conduct examiners and one Attorney General assistant. Darrel Powell has been appointed director of the new division. He has been with the department five months and leaves the position of director of the Producer Licensing Division. Prior to coming to work for the department Powell worked with a large property-casualty insurance company for 25 years.
Randy Overstreet has been appointed to replace Powell as the
director of the Producer Licensing Division. Overstreet has been with the department 15 years as a market conduct examiner/investigator. He has also been serving as the Utah chair of the Insurance Regulatory Examiners Society since December
The Life Division will now be combined with the Property and Casualty Division under the direction of Brad Tibbitts, who has been the director of this division for nearly five years. He has been with the department since 1998 and has worked in the insurance industry for 27 years. Prior to combining the two divisions, John Coomans served as director of the Life Division until his retirement in December 2005.
“We feel fortunate to have such good people working for the department who are well trained, experienced and capable,” said Michie. “It makes the transition so much smoother.”