Currently serving in his second term as North Dakota Insurance Commissioner, Jim Poolman has focused his efforts on working for and protecting insurance consumers across North Dakota. He previously served eight years in the North Dakota House of Representatives which he believes helps him in his role as commissioner.
In 2007, Poolman is pushing for regulatory modernization by supporting a flex rating system for personal and commercial lines insurance. He believes eliminating prior approval will increase competition and attract more companies to North Dakota.
On the issue of contingent commissions, Poolman supports the system as a valid one for agents and suggests that disclosures are not needed because many other industries use contingency commissions and the customer is not advised of what they are earning. To date, North Dakota has not passed legislation on the issue.
Commissioner Poolman has also taken an active role in the National Association of Insurance Commissioners (NAIC). He sits on the National Insurance Producer Registry Board of Directors, is chair of both the Producer Licensing Working Group and Life Insurance and Annuities Committee, and vice-chair of both the Government Affairs and the Valuation of Securities Task Forces. He believes that by participating in the NAIC, North Dakota has a stronger voice in creating and implementing insurance regulations.
Topics Legislation
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