CDI Deputy Commissioner Retires

California Insurance Commissioner John Garamendi released a statement announcing the retirement of Deputy Commissioner Norris Clark on Monday. Clark had served with the CDI for more than three decades.

“It is with a mixture of sincere gratitude and regret that I announce today that Norris Clark, Deputy Commissioner, Financial Surveillance, has decided to retire from the Department of Insurance after 31 years of superb service.

Mr. Clark began his tenure at the Department in 1973 as an Insurance Examiner. His knowledge and wisdom saw him rise steadily through the ranks, holding numerous staff, supervisory and management positions. It was my pleasure and great fortune to appoint him to his current position in 1991 during my first term as Commissioner.

As one of the nation’s foremost experts on financial insurance regulation, Mr. Clark’s brilliant work has been recognized throughout the industry. He is a leader nationally through his efforts with the National Association of Insurance Commissioners (NAIC), where he has chaired task forces and working groups responsible for the development and maintenance of insurance statutory accounting principles and disclosures. He has also been actively involved in NAIC groups that developed the RBC formulae and model laws, and model laws covering reinsurance, investments and insurance holding companies.

In 1995 Mr. Clark was awarded the Robert Dineen Award from the NAIC for his outstanding work and contributions to the state regulation of insurance. He is also a past President of the Society of Financial Examiners. His retirement is effective August 1, 2004.

I wish Mr. Clark the very best as he goes on to new ventures, and we look forward to building on the legacy of service he leaves behind.”