NAIC Discloses 2003 Staff Salaries
NU Online News Service, Dec. 31, 10:05 a.m. EST? The National Association of Insurance Commissioners disclosed today a list of names and salaries of five staff members with highest compensations for 2003.[@@]
The Kansas City, Mo.-based NAIC has been releasing this information annually since 1994, the association noted.
NAIC currently has 391 employees across its three locations, and the association's overall staff salaries, adding up to around $23.75 million, accounted for 43.9 percent of the NAIC budget, according to an NAIC spokesperson.
This year, combined salary figures for the top five staff members at NAIC add up to more than $1 million. Their compensation figures are as follows:
? Catherine Weatherford, executive vice president of the NAIC, joined the association in July 1996 and serves as the chief executive officer. Ms. Weatherford was paid $294,805 this year.
? Chris Evangel has served as managing director of the Securities Valuation Office in New York since November 1999. He directs NAIC efforts to monitor the credit quality of insurer investments to provide NAIC members with a source of uniform prices and quality ratings. Mr. Evangel's compensation is $246,010 for 2003.
? David Wetmore is the director of federal and international relations in NAIC's Washington, D.C., office. He oversees NAIC's government relations, international relations and health policy. His 2003 compensation is $184,062.
? Andy Beal, general counsel at NAIC, responsible for providing the association with legal advice on a variety of issues was compensated $162,286 in 2003.
? Mark Peavy, a life and health actuary with NAIC in Kansas City, Mo., was paid $158,116 for 2003.
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