Governor Phil Scott has made two senior appointments to the Department of Financial Regulation (DFR): Kevin Gaffney as commissioner and Emily Brown as deputy commissioner of insurance.
The DFR is accountable for ensuring the responsible operation of industry partners in the banking, insurance, securities and captive insurance sectors.
Gaffney has served as interim commissioner since May this year, before which he was deputy commissioner of insurance since 2019.
He has been at the DFR since 2007, including serving as technical expert for the insurance division to assist with the development of departmental positions through regulations, bulletins and filing requirements.
Before the DFR, Gaffney had more than 20 years’ experience in a range of marketing, underwriting and product management roles in Vermont and Connecticut.
Brown most recently served as director of insurance regulation at DFR, where she focused on healthcare policy and insurance coverage issues, leading the several initiatives to examine Vermont’s health insurance industry.
Before joining the department, Brown was a clerk at the Office of Legislative Council, and still served as a subject matter expert for health insurance legislation.
Commenting on the appointments, Scott says: “Both Kevin and Emily bring incredible experience to their new roles. Their knowledge of the state, the department and the industries they serve will make sure DFR’s reputation for extensive expertise and service continues.
“Kevin brings a strong balance of industry experience and leadership, along with a regulatory discipline that will serve Vermonters well. With Emily’s legal, legislative and regulatory experience, she will be hugely beneficial to the administration’s work to address the many challenges facing the healthcare system, affordability for Vermonters, and beyond.”
Gaffney adds: “I feel honoured and humbled by the opportunity to lead such an engaged and committed group of financial regulatory professionals. The responsibility of being the chief financial regulator in the state is not something I take lightly.
“Protecting the financial wellbeing of Vermont consumers, while maintaining a robust and vibrant financial services marketplace that provides valuable benefits and services to all Vermonters, is a key mission at DFR and I intend to expand our focus and outreach in these areas.”
