Catherine J. Weatherford, executive vice president and CEO of the National Association of Insurance Commissioners (NAIC) for the past 12 years, confirmed reports that she will be leaving the association.
Weatherford is expected to continue to serve the association as a consultant through the 2008 Fall National Meeting.
“I am proud of the accomplishments NAIC members have made during my tenure at the NAIC — especially in areas that have resulted in stronger consumer protections, regulatory modernization and more effective financial regulatory oversight,” Weatherford said.
She said she is leaving because she is “ready for a change.”
Before heading the NAIC, Weatherford was an insurance regulator in Oklahoma.
Her departure comes at a time when Congress is weighing proposals to expand federal regulation of insurance and to create a federal office of insurance information.
NAIC President and Kansas Insurance Commissioner Sandy Praeger
said a national search will be conducted to find her replacement.
Weatherford’s salary was $370,000.
Andrew Beal, deputy executive vice president and chief legal officer, has been named acting executive vice president and CEO.
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