Kentucky Insurance Commissioner Defends State Regulation
Kentucky Insurance Commissioner Sharon Clark believes that despite the recent government bail-out of AIG, insurance companies and consumers will weather the storm. Above all, Clark feels states should have final say in individual regulatory functions. In contrast, Clark says the insurance department’s fraud unit cooperates effectively with the federal government on investigative efforts through the U.S. Postal Service or through the U.S. Attorney’s General office. Internet-based fraud is a major focus, Clark says. Disaster response is high on the commissioner’s radar and when she took office, Clark became the first director of consumer protection and established a disaster response team.
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