Oregon’s New Insurance Commissioner

Oregon has a new insurance commissioner. TK Keen has been chosen to run the department by the Department of Consumer and Business Services (DCBS). Keen has been the interim acting insurance commissioner since June and served as the deputy insurance commissioner for five years before that.

He was responsible for getting Oregon a five-year accreditation by the National Association of Insurance Commissioners (NAIC) for the Oregon Division of Financial Regulation (DFR). DCBS Director Sean O’Day said his work on the accreditation means Oregon is requiring insurers to meet the NAIC’s national standards and that is good for consumers.

“TK has taken a lead role in DFR's accreditation with the NAIC, organizing its response to emerging issues and technologies, and driving efforts around diversity, equity, and inclusion," O’Day said. “He prioritizes consumer protection and the financial stability of our regulated institutions, and I appreciate him taking on the insurance commissioner role.”

He also worked hard on helping consumers with insurance issues after wildfire damages.

“The work of the insurance commissioner is vital to Oregonians, especially during a time of rising natural disaster risks and financial uncertainties," Keen noted. “I am proud to lead a team that is filled with caring and intelligent people who are dedicated to protecting consumers and working with the state's insurance and financial services industries to find ways to help Oregonians fulfill their financial goals.”

Source link: Oregon Department of Insurance — https://bit.ly/4q4QgnL