The state’s chief regulator, Scott Kipper did not give any reason for his choice to step down from his position.
At the end of last week, the Nevada insurance commissioner, Scott Kipper announced that he has resigned and that this will become effective in less than a month, as of July 2.
He made the announcement quite recently at the same time that he praised his division’s achievements.
He expressed that “It has been an honor to have served the state of Nevada as commissioner.” As he resigned as Nevada insurance commissioner, he added that “I am proud of the division’s accomplishments. I am certain that the Division of Insurance will continue to serve the consumers, protecting the rights of all Nevadans as we regulate the $12 billion insurance industry.”
The position of Nevada Insurance Commissioner has a $117,000 paycheck, and he gave no reason for leaving it.
Kipper served as the insurance commissioner in the state from December 2008 through June 2010 and was then re-appointed to the position in October 2011 and has continued to hold the position since that time. The implementation of the health care reform of the federal Affordable Care Act occurred while he was at the head of the division.
That division has been recognized as being one of the top insurance regulatory agencies in the United States. Kipper has also served on the U.S. Department of Treasury’s Federal Advisory Committee on Insurance, as well as on the National Association of Insurance Commissioners (NAIC) Executive Committee.
The website of the division also underwent a considerable expansion during Kipper’s time as the commissioner. This made it possible for people in the state to be able to better understand their insurance products so that they would be capable of making more informed purchasing decisions.
The position of Nevada Insurance Commissioner is the head of the Division of Insurance in the state and is a part of the Department of Business and Industry. Its purpose is to help to protect consumer rights and to regulate the industry in the state, which is currently estimated to be worth $11.9 billion.