Michigan Gov. Rick Snyder has named an insurance executive to head up the state’s Office of Financial and Insurance Regulation.
Kevin Clinton, former president/CEO of American Physicians Capital of East Lansing, succeeds Ken Ross, a former lobbyist for the Michigan Credit Union League and appointee of former Democratic Gov. Jennifer Granholm.
Clinton has been a special adviser to the regulatory agency. “As the new insurance and banking commissioner, Kevin Clinton's first priority is to make sure consumers are protected by making sure financial institutions are sound,” the Republican governor said. “He will also lead our effort to eliminate burdensome regulations that are preventing the industry from growing.”
Ross, a former state assistant general, had served in the regulatory job since February 2008 and his selection was hailed as a coup for Michigan CUs.
The governor said he hopes more insurance companies can do business in the state creating more jobs and that “more competition among insurance companies and banks” means better rates for consumers.
During his tenure at American Physicians, Clinton helped steer a merger of his firm with the Doctors Group of Galesburg, Mich.