Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
CONCORD, N.H., Aug. 6 -- The New Hampshire Department of Insurance issued the following news release:
The New Hampshire Insurance Department has appointed a new director of Financial Regulation.
Deb Stone, who formerly served as an actuary and director of Market Regulation at the Insurance Department, brings almost 30 years of insurance industry experience to her new position. Stone, who is a Fellow in the Casualty Actuarial Society and a Member of the American Academy of Actuaries, spent 23 years in various insurance-related roles in the private sector before joining the Insurance Department. She holds dual bachelors degrees in mathematics and education from the University of New Hampshire and an MBA from the Wharton School at the University of Pennsylvania. She is a 30-year member of Mensa.
"We are very happy to announce Deb's new role at the Insurance Department," said New Hampshire Insurance Commissioner Roger Sevigny. "One of the most important things we do is work to protect New Hampshire consumers by ensuring that the insurance companies that operate in this state remain solvent and able to honor their commitments to consumers. Deb's vast expertise and experience make her an ideal fit for this position, and her work will benefit residents of this state."
Stone oversees a staff of eight, who support the Financial Regulation division's three primary roles: financial examinations, financial analysis, and company licensing.
"This is an exciting opportunity for me. While I have been involved in financial matters from a high level for years, this is an opportunity for me to learn at a more granular level and use that knowledge to help make sure that the insurance marketplace in NH thrives," Stone said. "I get to work with great staff, all of whom bring a wealth of knowledge to my team and my efforts to learn. Additionally, as the world of financial regulation evolves, the focus is shifting from a primarily quantitative view to a more risk-focused way of looking at things. As an actuary, I hope to be able to leverage my experience in evaluating and managing risk to that same end."
In its focus on financial regulation, the New Hampshire Insurance Department works closely with other states, largely through the National Association of Insurance Commissioners (NAIC), the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. The New Hampshire Insurance Department is accredited through the NAIC.
The New Hampshire Insurance Department's mission is to promote and protect the public good by ensuring the existence of a safe and competitive insurance marketplace through the development and enforcement of the insurance laws of the State of New Hampshire. For more information, visit www.nh.gov/insurance.
CC AutoTriage5rn-140807-30FurigayJane-4822480 30FurigayJane