Insurance Superintendent

Department of Professional and Financial Regulation 

Opening Date: November 9, 2022

Closing Date:  December 1, 2022

Job Class Code: EY02 - this is an Unclassified position
Grade: 90 (Major Policy Influencing)
Salary: $99,091-$148,657
Location: Gardiner, ME

The Maine Bureau of Insurance (BOI) regulates Maine’s insurance industry to protect and to serve the public. BOI protects consumers by ensuring that insurance carriers remain solvent and that companies and individuals under the Bureau’s jurisdiction follow state laws when doing business in Maine. BOI licenses insurance producers and companies, among many other entities; performs examinations and conducts audits; reviews policy rates and coverage forms; investigates complaints; educates consumers about their rights and responsibilities under insurance laws, and sponsors programs that enhance awareness of and compliance with State laws.

BOI regulates close to 1,400 insurance companies, including 19 domestic carriers, 77 self-insurers for workers' compensation insurance and nearly 168,000 insurance producers, including more than 5,600 resident producers. As part of a national state-based system, BOI establishes standards for financial solvency, market conduct, corporate oversight, and regulation, and monitors the compliance of regulated entities with these standards.  The Bureau has over 70 FTEs divided among 10 functional areas: Consumer Health Care Division; Life and Health Actuarial Unit; Property and Casualty Division;  Financial Analysis Unit; Financial Examination Unit; Alternative Risk Unit; Market Conduct Unit; Producer Licensing Division; Research and Statistics Unit; and Administrative Unit. 

The Superintendent is the head of BOI, which is one of five independent regulatory agencies within the Department of Professional and Financial Regulation (DPFR). The Department is overseen by a Commissioner to whom the Superintendent reports.

The Superintendent establishes the strategic direction, objectives, priorities and regulatory goals for the Bureau.  The Superintendent’s responsibility is to protect the insurance consumer, the public interest and the insurance marketplace by ensuring the solvency of insurers, by enforcing and implementing the insurance laws of Maine, and by regulating the insurance industry in an efficient, courteous, responsive, fair and equitable manner.  This position is a high-profile position.

The Superintendent’s primary responsibilities include:

• Consumer protection.
• Ensuring that the Bureau maintains an effective system for monitoring and conducting financial examinations of Maine’s domestic insurers.
• Monitoring the insurance market to ensure the availability of insurance and that the market practices employed by insurers are fair and reasonable.
• Setting insurance regulatory policy by establishing licensing requirements for insurers, producers, third party administrator, service contract providers.
• Enforcing the insurance laws of the State of Maine.
• Directing and overseeing Maine’s alternative risk markets (MEWAs, Captives, Workers Comp Self-insurers).
• Directing and overseeing all internal operations of BOI.
• Increasing the Agency’s visibility among all stakeholders including Maine citizens, the Executive branch, the legislative branch, other government agencies, the insurance industry and the National Association of Insurance Commissioners (NAIC).
• Improving the Department’s efficiency through the use of technology and automation.
• Serving as a voting member of the NAIC.

Leadership Duties Include:

• Providing strategic leadership and oversight to ensure the successful implementation of the Bureau’s mission.
• Willingness to identify and inspire change within the Bureau and its mission, as needed.
• Developing, mentoring and leading a professional staff that includes attorneys, actuaries, financial and compliance examiners, and licensing staff, among others.
• Working with Bureau leadership team to develop policies and practices for the work environment that promote employee attraction and retention.
• Structuring and organizing the work of the Bureau in the most efficient and effective manner, subject to state budget limitations.
• Representing Maine and the administration at national insurance meetings.
• Serving as advisor to a variety of state and national boards and commissions.
• Collaborating with the Governor’s Office and their administration on matters related to insurance, access, and costs.
• Advising the Governor’s Office on the implications of proposed policy changes.

Key Skills and Abilities:

• Relevant work experience, such as experience in the insurance or financial services industry, or related work experience.
• Knowledge of insurance regulation. Knowledge of insurance law preferable.
• Ability to understand and address insurance market issues in a manner which benefits the entire state and preserves the markets.
• Excellent written and verbal communication skills including advanced interpersonal skills with the ability to influence and persuade to affect solutions to complex problems and build consensus among stakeholders with strong and divergent views on insurance and financial topics.
• Detail-oriented, strategic thinker with well-developed decision-making, research, analytical, and project management skills.
• Ability to make recommendations based on thorough understanding of the short and long-term impact of decisions, projects, or initiatives.
• Demonstrated ability to multi-task and manage many time-sensitive, complex projects. simultaneously to support short and long-term priorities.
• Ability to identify and resolve, or minimize, potential conflicts in goals and objectives.
• Ability to identify talent and manage large teams.
• Ability to recognize and respond to trends affecting the insurance industry and consumers. 
• Experience dealing with extremely sensitive issues that are high profile and receive media attention.
• Experience working successfully with an executive team, representatives of the insurance industry, consumers, and members of the Executive and Legislative branches of government.

Minimum qualifications:

A five (5) year combination of education and/or professional level experience providing a knowledge of securities law or finance -OR- a law degree.

The Superintendent of Insurance is appointed by the Governor and is subject to review by the joint standing committee of the Maine Legislature having jurisdiction over banking and insurance matters and to confirmation by the Legislature. Once appointed, the Superintendent serves a five-year term leading and directing the Maine Bureau of insurance.

Contact information:

Questions about this position should be directed to Executive Assistant Shawn C. Brooks at shawn.c.brooks@maine.gov.

Application Instructions:

Interested applicants need to apply online by selecting the "Apply for this opening" button along with uploading a cover letter, current resume, and copies of any transcripts or certifications you wish to have considered while evaluating your application.  In order for us to properly determine if you meet the minimum qualifications for any posting, you must be sure your resume includes month and year for any experience listed along with the duties and responsibilities associated with each particular time period.  Any experience that was not full-time employment should be identified as such. 

If you require a paper application, please download and print one here https://www.maine.gov/bhr/state-jobs/application-process or contact our office at 207-623-6700.  Paper applications for this posting should be submitted along with cover letter and resume before the closing date to Security & Employment Service Center, 45 Commerce Drive, Augusta, ME  04330 or faxed to 207-287-2018.  Be sure title of the job you are applying for is included.  Applications cannot be accepted after the posting closing date.  

Benefits of working for the State of Maine:

No matter where you work across Maine state government, you find employees who embody our state motto—"Dirigo" or "I lead"—as they provide essential services to Mainers every day. We believe in supporting our workforce's health and wellbeing with a valuable total compensation package, including: 

• Work-Life Balance – Rest is essential. Take time for yourself using 13 paid holidays, 12 days of sick leave, and 3 weeks of vacation leave annually. Vacation leave accrual increases with years of service, and overtime-exempt employees receive personal leave. 
• Health Insurance Coverage – The State of Maine pays 85%-100% of employee-only premiums ($10,150.80-$11,942.16 annual value), depending on salary. Use this chart to find the premium costs for you and your family, including the percentage of dependent coverage paid by the State.  
• Health Insurance Premium Credit – Participation decreases employee-only premiums by 5%. Visit the Office of Employee Health and Wellness for more information about program requirements. 
• Dental Insurance – The State of Maine pays 100% of employee-only dental premiums ($350.40 annual value). 
• Retirement Plan – The State of Maine contributes  13.16% of pay to the Maine Public Employees Retirement System (MainePERS), on behalf of the employee.  
• Gym Membership Reimbursement – Improve overall health with regular exercise and receive up to $40 per month to offset this expense. 
• Health and Dependent Care Flexible Spending Accounts – Set aside money pre-tax to help pay for out-of-pocket health care expenses and/or daycare expenses. 
• Public Service Student Loan Forgiveness – The State of Maine is a qualified employer for this federal program. For more information, visit the Federal Student Aid office. 
• Living Resources Program – Navigate challenging work and life situations with our employee assistance program. 
• Parental leave is one of the most important benefits for any working parent. All employees who are welcoming a child—including fathers and adoptive parents—receive four weeks of fully paid parental leave. Additional, unpaid leave may also be available, under the Family and Medical Leave Act.  
• Voluntary Deferred Compensation – Save additional pre-tax funds for retirement in a MaineSaves 457(b) account through payroll deductions. 
• Learn about additional wellness benefits for State employees from the Office of Employee Health and Wellness. 

Maine State Government is an Equal Opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees. We provide reasonable accommodations to qualified individuals with disabilities upon request.

Salary : $99,091 - $148,657