Tennessee Department of Commerce and Insurance (TDCI) commissioner Julie Mix McPeak has announced she is resigning after more than eight years in the role, effective 14 June, to pursue career opportunities in the private sector.
Deputy commissioner Carter Lawrence will serve as the department’s interim commissioner until a permanent commissioner is selected.
McPeak, who was first appointed as commissioner in 2011 by former-Governor Bill Haslam, has played an integral role in the growth of the Tennessee captive insurance industry.
Under her leadership, the modernisation of Tennesee’s captive insurance laws has resulted in the domicile exceeding $1 billion in written premiums for the first time in 2017.
McPeak is also the immediate-past president of the National Association of Insurance Commissioners (NAIC) and, having previously served as the executive director of the Kentucky Office of Insurance, was the first woman to serve as chief insurance regulator in multiple states.
McPeak described Tennessee as “a special place” and said “it has been a distinct privilege and honor to have served the Volunteer State”.
She commented: “It’s been an amazing journey. At the end of the day, I’m enormously proud of our accomplishments on behalf of Tennesseans.”
“I believe the Department has helped play a role in transforming Tennessee into a national and international destination for families and businesses.”
Tennessee Governor Bill Lee thanked McPeak for her service and “her tireless commitment to her Department and to Tennessee”.
He added: “We wish her the best in her future endeavors.”
Incoming interim commissioner Lawrence thanked Lee for appointing him to the role.
He said: “McPeak leaves a legacy of sound management practices and continually challenging the Department’s executive staff and our team members to strive for their best as they serve the public.”
“Following her example, I will champion Governor Lee’s vision for Tennessee during my service as interim commissioner.”
