Catherine Weatherford, former chief executive officer of the National Association of Insurance Commissioners, who abruptly resigned her post last month, has been hired by a trade group that represents life insurance and annuity firms.
NAVA Inc., which calls itself the Association for Insured Retirement Solutions, announced it had hired Ms. Weatherford to be president and chief executive officer starting Sept. 3.
Ms. Weatherford previously spent 12 years working as executive vice president as well as CEO of the Kansas City, Mo.-based NAIC.
At the time of her resignation sources suggested that some NAIC members were unhappy with her management as well as the direction the organization was taking and those issues had been raised when her contract negotiations began.
Ms. Weatherford is the second highly placed person in the NAIC ranks to join a private industry firm in recent months. On Tuesday it was announced that Alabama Insurance Commissioner Walter Bell, the 2007 NAIC president, will become the new chairman of Swiss Re America.
Mr. Bell's move led to criticism by consumer groups, who said the NAIC needs a conflict of interest law to prohibit individuals, once they have left public service, from lobbying the NAIC or other insurance regulatory bodies–including foreign insurance regulators–for two years.
NAVA Chairman Clifford Jack said in a statement that Ms. Weatherford would work to maintain the organization's progress on regulatory, technology and trade group partnership initiatives.
Ms. Weatherford served as Oklahoma insurance commissioner from 1991 to 1995. She also has worked as a regional public affairs manager for Liberty Mutual Group, Boston.
The new CEO, NAVA said, will succeed Mark Mackey, who announced his resignation from Reston, Va.-based NAVA, in January. Mr. Mackey will stay with NAVA during a short transition period, NAVA said.
Mr. Jack in a statement said Ms. Weatherford was NAVA's choice for the post because in 12 years at NAIC she had "helped unite the group's members into one voice and bring the association to the forefront of insurance regulation issues."
She will be just as successful at NAVA, he predicted.
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