Due to differences in determining who should serve as Florida’s next insurance commissioner, the state is precariously entering hurricane season without someone at the wheel of the insurance regulation agency.
Florida’s hurricane season typically begins on June 1.
Gov. Rick Scott and Chief Financial Officer Jeff Atwater have each chosen a candidate for the job and neither can agree on whom to appoint, causing the delay. The former is endorsing former executive director of the terrorism risk insurance program for the U.S. Treasury Jeffrey Bragg, while the latter is backing State Rep. Bill Hager.
While all four Cabinet members must vote on the position, a state law allows the governor and chief financial officer to individually veto the choice.
"When you think of the consequences of this choice every Floridian would want us to be thoughtful,” Atwater reasoned regarding the delay. "It may take a bit longer and that's ok."
Both candidates have been targeted by criticism and controversy. Bragg had been accused of misleading investors in a flood insurance venture. Hager, on the other hand, previously supported legislation that would have decreased the size of Florida’s fund that provides financial backing to insurers in the region—the bill failed to gain any traction, as there were concerns that it could have resulted in higher rates for consumers.
Florida’s insurance commissioner will be responsible for helping regulate one of the most hurricane-prone regions in the country. The elected official will replace outgoing insurance commissioner Kevin McCarty, who has served the state for 13 years.
McCarty had announced his resignation early this year, to take effect May 2. The delays in coming up with his replacement, however, made him offer to stay on the job for 45 more days until a new commissioner is selected.
