Tennessee's insurance commissioner for the past eight years announced today she will be leaving state government next month and be succeeded by her top deputy.
Julie Mix McPeak, who was appointed as commissioner of the state Department of Commerce and Insurance by former Gov. Bill Haslam in 2011, said today she will step down from her gubernatorial cabinet role on June 14. Tennessee Governor Bill Lee has named TDCI Deputy Commissioner Carter Lawrence to serve as the Department's Interim Commissioner until a permanent commissioner is selected.
McPeak did not announce her future plans.
"We thank Julie Mix McPeak for her over eight years of service and her tireless commitment to her Department and to Tennessee. We wish her the best in her future endeavors," Lee said in a statement announcing her departure today. "Carter Lawrence has ably served as Deputy Commissioner at the Department of Commerce and Insurance, and I look forward to serving alongside him as he steps into the role of Interim Commissioner."
McPeak is the immediate past president of the National Association of Insurance Commissioners (NAIC), the regulatory organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. McPeak, who formerly served as executive director of the Kentucky Office of Insurance and counsel to the Insurance practice group of law firm Burr & Forman LLP, is the first woman to serve as chief insurance regulator in more than one state.
Under McPeak's leadership, the department was accredited by NAIC, created the "Get Alarmed, Tennessee!" free smoke alarm program, modernized Tennessee's captive insurance laws to aid the growth of domestic captive insurance companies and streamlined the process for issuing professional licenses.
"Tennessee is a special place, and it has been a distinct privilege and honor to have served the Volunteer State," McPeak said. "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."