North Dakota Insurance Commissioner Race Down to the Wire
by: Midwest News
published: Nov 04, 2008
The race for the commissioner's spot in North Dakota has been a lively exchange from the beginning. Incumbent Adam Hamm, a Republican, is running for his first four-year term as insurance commissioner. He was appointed by the Governor Hoeven earlier this year to replace Jim Poolman who resigned 17 months early to launch his own business.
Insurance Journal did an indepth interview with Commissioner Hamm during the National Association of Insurance Commissioners' meeting in late September. At that time he said he is a staunch supporter of state regulation of insurance and cited the AIG and economic failures as proof state insurance regulation is effective because the insurance sector of AIG remained solvent. He opposed to the optional federal charter version of federal oversight of insurance, which he says is most strongly supported on the life side of the industry.
Hamm also believes his top priorities to be the protection of consumers and continued competitiveness of insurance companies in the North Dakota market. He has proposed graduated drivers licensing for teen drivers.
Hamm's Democratic opponent, Fargo state Rep. Jasper Schneider, jumped into the election early on accusing Hamm of using a senior citizen television public service announcement paid for by department funds and featuring Hamm as an inappropiate use of department resources. Schneider also said that Hamm's proposal to crack down and toughen restrictions for teen drivers was just another ploy to win over voters saying that the proposal came just two weeks before the election.
Schneider's own proposal is a push to bar any state insurance commissioner who resigns from the job voluntarily from working in the insurance industry. Schneider said 35 states have so-called ''revolving door'' legislation, including Montana and South Dakota. Violating the South Dakota law is a Class 1 misdemeanor, with a maximum penalty of one year in prison and a $1,000 fine.ustry for one year afterward. He plans to file the bill draft in December.
