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Office of Regulatory Reinvention Appoints Members to the Insurance and Finance Advisory Rules Committee
New members will assist the Office of Regulatory Reinvention in identifying obsolete, unnecessary rules and regulations
May 27, 2011 - Today, the Office of Regulatory Reinvention appointed thirteen people to the Insurance and Finance Advisory Rules Committee. The Insurance and Finance Advisory Rules Committee will assist the Office of Regulatory Reinvention (ORR) in identifying duplicative, obsolete, unnecessary or unduly restrictive rules affecting the insurance, banking, and finance industries.
"Our goal is to ensure strong consumer protections remain in place while eliminating unnecessary and burdensome regulations. These appointments will help the Office of Regulatory Reinvention identify these types of rules that are preventing business growth and job creation," said Steve Hilfinger, Michigan's Chief Regulatory Officer and director of the ORR. "Michigan is fortunate to have so many highly-credentialed citizens excited to serve and put in the time necessary to make Michigan's regulatory system more efficient and effective."
"I am pleased that all members of the regulated community - including insurers, credit unions, banks, and consumers - will have their voices heard on this committee."
Specifically, the ORR appointed:
- Bill Berenson, Lansing, Michigan Market President, AETNA
- Lorray Brown, Ypsilanti, Michigan Poverty Law Program
- Patty Campbell, Roseville, President & CEO, Christian Financial Credit Union
- Kevin Clinton, East Lansing, Office of Financial and Insurance Regulation (OFIR) Commissioner
- Mark Cook, Lansing, Vice President of Governmental Affairs, BCBSM
- Allan Daniels, Bloomfield Hills, President, AA Mortgage Corp.
- David Field, Northville, Regional Counsel, Law and Regulation, Allstate Insurance Company
- Kurt Gallinger, Brighton, Vice President & Counsel - Government Relations, Amerisure Mutual Insurance Company
- Lawrence Kish, Okemos, President and General Counsel, Life Insurance Association of Michigan
- W. Howard Morris, Detroit, President & Chief Investment Officer, Prairie & Tireman
- Robert Pierce, Lansing, CEO, Michigan Association of Insurance Agents
- Jeanne Richter, Williamston, President/CEO, Farmers State Bank of Munith
- Robert Worthington, Grand Rapids, Senior Vice President, General Councel & Risk Management Director, Mercantile Bank of Michigan
Hilfinger will chair the committee. The first committee meeting will be held next month in Lansing.
The ORR was formed pursuant to Executive Order 2011-5. The Executive Order contemplates that, as part of its effort to obtain input from a broad spectrum of stakeholders, the ORR will create certain Advisory Rules Committees.
The Insurance and Finance Advisory Rules Committee (ARC) will function for 120 days after formation, unless that date is extended by the ORR. The ARC will issue a report to the ORR containing advisory recommendations upon the completion of their work.
The ORR has already identified approximately 575 rules promulgated by the State's Office of Financial and Insurance Regulation. The ARC will evaluate these rules based of the factors listed in Executive Order 2011-5, including the health and safety benefits of the rules; the cost of compliance with the rules; whether the rules are duplicative or obsolete; and other factors.
Ultimately, the ORR will submit its findings and recommendations to the Governor, based in part on the reports from all of the ARCs. Two other ARCs, Environmental and Workplace Safety, have been created. Other ARCs will be formed in the future, to address other areas of regulation, according to Hilfinger.
In addition to forming ARCs, the ORR will provide interested parties with the opportunity to share their perspectives on the regulatory environment by, among other things, inviting the submission of comments online at www.michigan.gov/orr and by providing for public comment as part of any formal rulemaking process mandated by the Administrative Procedures Act.
For more information about LARA, please visit www.michigan.gov/lara. Follow us on Twitter www.twitter.com/michiganORR, "Like" us on Facebook or find us on YouTube www.youtube.com/michiganLARA.