Despite consumer group criticism of a "revolving door" between state insurance departments and the industry being regulated, Alabama Gov. Bob Riley tapped another former insurance company executive to fill the commissioner's post left vacant when the prior regulator signed on to do lobbying and other work for a reinsurer.
Gov. Riley, a Republican, appointed as the state's new commissioner Jim L. Ridling, a past president and chief executive officer of Southern Guaranty Insurance Company, a Montgomery, Ala.-based property-casualty insurer of personal and commercial lines.
The state's last head regulator, Walter Bell, resigned last month to become chairman of Swiss Re America Holding Corp. Besides directing regulatory affairs and lobbying regulators, the company said Mr. Bell would provide supervisory governance of business in the Americas.
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