Includes first-ever post
Florida Insurance Commissioner Michael Yaworsky has announced the appointment of Sheryl Parker as the Florida Office of Insurance Regulation’s (OIR) first Deputy Commissioner of Market Regulation and Virginia Christy as OIR’s Deputy Commissioner of Property and Casualty. Both of these strong women are veterans and real pros. Christy is intimately familiar with the financial woes of Florida’s homeowners insurance marketplace, having reviewed and signed affidavits regarding insolvent carriers. And Parker worked with one of the most dynamic insurance regulators in Florida alongside Susanne Murphy. They are approachable, reasonable and understand that a balanced regulatory environment where insurance companies and consumers are treated fairly is the recipe for a successful marketplace
Sheryl Parker, Deputy Commissioner of Market Regulation
The Deputy Commissioner of Market Regulation position was established to further enhance OIR’s oversight efforts to further protect insurance consumers from unlawful or harmful business practices. The new, elevated position resulted from new regulatory powers granted to OIR by the Florida Legislature this spring in SB 7052, the Insurer Accountability Act. It also comes with an appropriation of $2,064,215 to OIR to implement the Act. Parker had most recently served for four years in the same capacity at a unit director level under the Property and Casualty side of OIR. The unit is responsible for conducting examinations and investigations of insurance companies and related parties regarding business practices and patterns of alleged violations of the Florida Insurance Code.
Parker has been with OIR since 2012 and before that, worked in a variety of positions for the Florida Department of Financial Services Division of Consumer Services. A Marine Corps veteran, she began her insurance career in 1990 and was a licensed insurance agent in Florida and North Carolina. She holds a bachelor’s degree in business administration from Kaplan University.
Virginia Christy, Deputy Commissioner of Property and Casualty
Christy has been with OIR since 2008, first as Chief Assistant General Counsel, then in 2017 became Director of the Financial Oversight Unit on the P&C side. The unit is responsible for the licensure of companies and monitoring their financial condition through examinations and ongoing analysis. Prior to OIR, Christy served as an Assistant Public Defender in Jacksonville. She holds a bachelor’s degree in business administration with an emphasis in accounting from Missouri Southern State College and a law degree from Florida Coastal School of Law. She replaces Susanne Murphy, who left OIR last December.
“During their time at OIR, Sheryl and Virginia have been critical to our consumer protection, market regulation and financial oversight efforts,” said Commissioner Yaworsky, in a press release. “They both are bringing extensive knowledge and experience to their respective positions and I am proud to announce their appointments as Deputy Commissioners. I’m confident they will continue to serve and protect policyholders to the fullest extent.”
I am looking forward to working with both of these incredible insurance professionals.
LMA Newsletter of 6-12-23
