Florida Gov. Rick Scott and state Chief Financial Officer JeffAtwater promoted Deputy Commissioner David Altmaier to lead theFlorida Office of Insurance Regulation, several media outletsreported on Friday.

Altmaier succeeds Kevin M. McCarty, who has served as theincumbent in this position since 2003. McCarty announced in earlyJanuary that he wished to resign by May 2. He will stay with thedepartment for another 60 days to help with the transition,according to the Tampa Bay Business Journal.

“Florida's insurance consumers will be in good hands underDavid's thoughtful and patient leadership and he will have thebenefit of an exceptional team of individuals to assist him,”McCarty said in a statement.

Altmaier, 34, has been with the Florida insurance departmentsince 2008, and most recently served as deputy commissioner forproperty and casualty insurance.

In this role, he provided regulatory, legislative, and policysupport to the insurance commissioner, while also overseeing theProduct Review and Financial Oversight business units. During histime with the department, Altmaier held various roles within theproperty and casualty business unit, include chief analyst anddirector of property and casualty financial oversight, thedepartment said in announcing the appointment.

As commissioner, Altmaier will see his salary increase from$115,000 a year to $165,000 a year from $115,000, the Tampa BayBusiness Journal reported.

“I am humbled by the support of the Financial ServicesCommission and look forward to serving the insurance consumers ofFlorida,” Altmaier said in a statement.

The Indianapolis-based National Association of Mutual InsuranceCompanies welcomed the appointment.

“In his work with the National Association of InsuranceCommissioners on capital adequacy, catastrophe, and otherrisk-based capital issues, he has proven to be a fair-minded personwho brought regulators together to reach a well-reasoned consensus.Commissioner Altmaier has demonstrated a deep understanding ofbroad policy questions as well as technical actuarial issues, andwe look forward to working with him,” said Matt Brady, theorganization's director of federal public affairs.

A 2002 state law that made the insurance commissioner anappointed position requires that the governor and the state's CFOagree on an appointment, according the Miami Herald.

McCarty had been appointed before the change in the law, so thisis first time the new appointment regime has been tested, thenewspaper reported.

Florida's governor and CFO agreed on Altmaier after two othercandidates failed to get support from the two leaders. The twoother members of the state's Cabinet – the attorney general and theagriculture commissioner – also supported Altmaier, the MiamiHerald said.

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