DEPARTMENT OF PROFESSIONAL AND FINANCIAL REGULATION ANNOUNCES RETIREMENT OF SUPERINTENDENT ROBERT CAREY FROM THE MAINE THE BUREAU OF INSURANCE

The following information was released by the Maine State Government:

Maine's Department of Professional and Financial Regulation today announced that Superintendent Robert Carey will retire from the Maine Bureau of Insurance (BOI) on June 5.

Nominated by Governor Janet Mills as Superintendent in 2024, and confirmed unanimously by the Maine Senate, Carey played a crucial role in the Bureaus regulation of the insurance industry to protect and serve the public.

Under his leadership, the Bureau successfully saved Maine homeowners and automobile owners millions in insurance premiums and kept Maines auto insurance rates among the lowest in the country. As a member of the Governor's Infrastructure Rebuilding and Resilience Commission, Superintendent Carey created new resources to fortify Maine homes against extreme weather, measures that received strong bipartisan approval from the Legislature.

"It has been an honor to lead the Bureau for the past two years, to address the challenging issues in the insurance markets and support the needs of Maine people and businesses," said Superintendent Carey. "I thank Governor Mills for this opportunity."

"Bob Carey has truly made a difference for Maine people," said Governor Mills. "I appreciate his skill and expertise in navigating the ever-changing insurance landscape. He will be hard to replace."

"Bob was an outstanding superintendent who brought deep expertise and a steadfast commitment to serving the people and businesses of Maine," said Joan Cohen, Commissioner of the Department of Financial and Professional Regulation. "I thank him greatly for his service and wish him success in his next chapter."

Under Superintendent Carey, the BOI in 2025 saved residents $5.8 million in potential increases for auto and homeowners coverage in 2025. The Bureau also recovered more than $4.5 million for Maine people and businesses through investigations into consumer complaints.

Pursuant to Maine law, Deputy Superintendent Tim Schott will be appointed as Acting Superintendent upon Carey's retirement from BOI.