Montemayor Leaving As Texas Commissioner
By Michael Ha
NU Online News Service, Jan. 11, 4:28 p.m. EST?Texas State Insurance Commissioner Jose Montemayor has told Gov. Rick Perry that he will not seek reappointment after his current term expires at the end of May, the state insurance department told National Underwriter.[@@]
Jerry Hagins, spokesman for the Texas Insurance Department said Commissioner Montemayor will leave his post after serving out his third term at the end of May.
Commissioner Montemayor didn't indicate any specific reason for stepping down, Mr. Hagins said. But he added: "Commissioner Montemayor has spent six years as a regulator. 18 hour-days, seven-days a week for six years: he feels like he accomplished what he set out to accomplish."
Mr. Montemayor is the second major market regulator to announce a departure in recent weeks. Last month New York Insurance Superintendent Gregory V. Serio said he would be leaving to take an undisclosed position in the private sector.
During his tenure, some of the topics Commissioner Montemayor dealt with include homeowner's insurance and mold damage issues that affected Texas.
Commissioner Montemayor was first appointed to the post by then-governor George W. Bush in 1999, reappointed by Gov. Rick Perry in 2001 and again in 2003.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.