Former Insurance Commissioner, Florida
Kevin McCarty is one of the nation’s foremost experts on insurance and insurance regulation. With more than 27 years of experience including 13 years of service as Florida’s Insurance Commissioner (2003-2016), he offers unrivaled experience as a national and international leader on insurance markets, insurance regulation, global capital markets, and public policy.
In 2016, McCarty founded Celtic Global Consulting in Tallahassee. The firm serves state, national, and international clients, providing comprehensive services focused on insur ance issues and trends. Clients, ranging from government agencies and
insurance-related organizations to corporations and investors, tap into the firm’s expertise in such areas as advanced financial analysis, regulatory assessments, and advocacy on high-stakes issues and legislation.
When McCarty was appointed Florida’s Insurance Commissioner by the state Financial Services Commission, he was put in charge of a 292-member team at the Office of Insurance Regulation and an annual budget of more than $30 million. He made his mark in Florida by fostering a competitive and robust insurance marketplace, with a focus on business growth and capital opportunities.
At the same time, he bolstered protections for consumers, especially for the most vulnerable populations within the nation’s third most populous state.
While serving Florida as its Insurance Commissioner, McCarty also held a high-profile nationwide office as President of the National Association of Insurance Commissioners (NAIC). He accepted this position in 2012 after rising through the ranks and serving on numerous NAIC committees. His national leadership role utilized McCarty’s wealth of experience and allowed him to work closely with state regulators across the country.
Under his leadership, NAIC adopted key initiatives for Actuarial-38 guidelines and principle-based reserving. McCarty also worked hard on milestone efforts to change the way life insurance companies either conduct searches to locate life insurance beneficiaries or report and remit unclaimed property to the states. As a result of his forward-thinking efforts, more than $8 billion has been returned to consumers and the states through these investigations.
NAIC’s profile benefited greatly from McCarty’s vast experience in Florida, most notably in dealing with the state’s many hurricanes – experience that makes him a nationally recognized leader on issues related to catastrophes and best practices.
He has consulted with the President of the United States and testified before the U.S. Congress on Florida’s unprecedented experience dealing with hurricanes, as well as other important insurance-related issues.
McCarty’s exceptional grounding in the unique needs of a complex market began in his earlier years as an employee of the Florida Department of Insurance. In that capacity, he helped develop strategies to stabilize the property insurance market and help Floridians in the aftermath of Hurricane Andrew in 1993. This experience proved indispensable when, during his early years as Insurance Commissioner, Florida was pummeled by a string of eight hurricanes in the unprecedented 2004 and 2005 hurricane seasons.
While Insurance Commissioner, McCarty also navigated the insurance market through an availability and affordability crisis; worked with the Governor, Cabinet, and Legislature on measures to improve and reform homeowners, workers’ compensation, sinkhole, and personal injury protection insurance; and collaborated with industry and state experts on methods to improve mitigation techniques and building codes, practices that would assist in strengthening homes
and businesses while lowering costs for consumers.
McCarty has received numerous awards during his lengthy career. These honors and recognitions include: Regulator of the Year by LexisNexis (2008); the Spirit of Independence Award from the National Association of Health Underwriters (2011); Lifetime Achievement Award by the Florida Association for Insurance Reform (2015); Insurance Man of the Year by the Latin American Association of Insurance Agencies (2015); and Distinguished Fellow by the International Association of Insurance Supervisors (2016).
Kevin McCarty earned his bachelor’s degree and Juris Doctorate from the University of Florida.