22 November 2012USA analysis

NAIC CEO steps down earlier than expected

Dr. Therese Vaughan, the CEO of the NAIC, will be stepping down from her position as of the 30th of November, months earlier than her expected early 2013 departure date.

Vaughan has served as CEO of the NIAIC since 2009, but said: “since the August announcement it has become clear that an extended phase-out is unnecessary, and the organisation is well-positioned to carry our progress forward. I wish the officers, members, and staff the best of luck in the future, and look forward to continuing to advocate for the protection of US insurance consumers in my future professional activities.”

Vaughan will be replaced temporarily by Andrew Beal, the current chief operating officer and chief legal counsel, while the NAIC searches for a replacement to Vaughan.