The National Association of Insurance Commissioners (NAIC) announced the appointment of the present Massachusetts Insurance Commissioner, Gary D. Anderson, as the organization’s new Chief Executive Officer on Saturday, March 16, 2024. Anderson will begin leading the 153-year-old insurance standard-setting organization governed by the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories by May 1 after wrapping up his service as the Massachusetts Insurance Commissioner.
The NAIC statement on Anderson’s selection to replace its acting CEO
“Selecting the next NAIC CEO has been arduous but rewarding,” said NAIC President and Connecticut Insurance Commissioner Andrew Mais. “We were looking for the best fit, and we found it in Gary Anderson. Gary’s dedication to our state-based system of insurance regulation and his insurance expertise are top-notch. We look forward to his leadership as we navigate the complexities of regulating the insurance sector and deliver on our mission to protect consumers.”
Andrew J. Beal, the NAIC’s Chief Operating Officer & Chief Legal Officer, has served as the organization’s Acting Chief Executive Officer since March 2023, pending the selection of a new CEO.
Gary Anderson’s statement on his selection as the new NAIC CEO
“I have been fortunate to serve the Massachusetts insurance-buying public under three governors: Gov. Deval Patrick, Gov. Charlie Baker, and now Gov. Maura Healey,” said Anderson. “Throughout my career in public service, I have been rewarded with valuable experiences, new and lasting connections, and opportunities to contribute to a greater good. I am excited to embark on the next adventure as CEO of the NAIC, supporting the state-based system of insurance regulation. Thank you to the NAIC Members for the trust and faith you have placed in me.”
Massachusetts Commissioner since 2017
In 2017, Anderson was appointed Commissioner of Insurance by Massachusetts Gov. Baker. Anderson’s insurance experience began in 1999 with a regional carrier in the Northwestern U.S. He served as a policy adviser and senior counsel in the Massachusetts State Senate President’s office, where he was involved in several policy areas, from the state’s broad efforts to control health care costs to all matters affecting the financial services sector. Anderson joined the Massachusetts Division of Insurance as the First Deputy Commissioner in February 2014. His responsibilities included strategic planning and policy development for all aspects of the agency.
Commissioner’s prior and present work with the NAIC
Currently, Anderson is the Secretary of the Northeast Zone and serves on the Financial Regulation Standards and Accreditation (F) Committee, Financial Condition (E) Committee, and the Audit Committee. Additionally, he has chaired the NAIC International Insurance Relations (G) Committee since 2019. He also serves on the International Association of Insurance Supervisors (IAIS) Executive Committee as its vice chair and on the IAIS Policy Development Committee (PDC), which he chaired from 2020 to 2022.
In December 2022, Anderson was honored with the Raymond G. Farmer Award for Exceptional Leadership by the NAIC.
Anderson earned a Juris Doctor (J.D.) from Albany Law School of Union University (Albany, NY) and a bachelor’s degree in history from Idaho State University.
An organization with an annual budget of almost $160 million and nearly 600 employees
At the NAIC, Anderson will oversee an annual budget of over $158 million for 2024 and manage approximately 600 employees.
About the National Association of Insurance Commissioners
The NAIC was founded in 1871 to coordinate the state-based system of insurance regulation in the United States. The NAIC provides expertise, data, and analysis for insurance commissioners to regulate the industry and protect consumers effectively. The chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories govern the NAIC. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.
