Kevin McCarty, who helped guide Florida's fragile insurancemarket in the wake of eight hurricanes a decade ago, announcedTuesday that he is resigning as the state's insurance commissioner,the Associated Press reported.

He took office in 2003, and has dealt with the near collapse ofthe state's Homeowners' insurance market, major changes in healthinsurance and contentious legislative battles over Auto insurance,medical malpractice and the state-created Citizens PropertyInsurance.

Related: Florida OIR approves removal of up to 130,534policies from Citizens

McCarty, the first person appointed to the job after it stoppedbeing an elected position, was placed in the post in 2003 bythen-Gov. Jeb Bush and other elected members of the Cabinet. Heheld onto his position despite numerous calls from legislators —and even Gov. Rick Scott last year— that he should resign, the APsaid.

McCarty, who earns more than $134,000 a year, was able to hangonto his job because both the governor and the state's electedchief financial officer to agree on whether to fire thecommissioner.

He said he wasn't being pressured to resign, but is steppingdown on May 2 to pursue other jobs. He did not say what that jobmay be, but his lengthy time as a state regulator could help him tomove to positions at the national level.

He is considered a leading candidate to be the next chiefexecutive of the National Association of Insurance Commissioners,where he once served as president, the Tampa Bay Times reported.

History

When appointed, McCarty became one of the only openly gay peoplein a top state position. His sexual orientation only became knownbecause a Florida insurance company opened an investigation intohis private life, hoping it would cause then-Insurance CommissionerBill Nelson to fire him. A private investigator followed McCartyand illegally tapped his phone. McCarty sued the St.Petersburg-based Bankers Insurance Co., which in 2000 agreed to payhim a $2.55 million settlement, the Associated Press said.

McCarty's biggest challenges as commissioner came after thestate's insurance market shriveled after eight hurricanes poundedthe state in 2004 and 2005. Some insurers left the state and ratesstarted soaring, leading then-Gov. Charlie Crist and the FloridaLegislature to approve a dramatic expansion of a state-backedreinsurance fund in order to lower costs for private insurers. Theyalso agreed then to freeze rates for Citizens Property Insuranceand help it compete for business.

Related: Florida lawmaker offers bill to end no-fault Autoinsurance

Have you Liked us on Facebook?