During the National Association of Insurance Commissioners’ (NAIC) opening session to its 233rd National Meeting, NAIC President and Commissioner of Florida’s Department of Insurance, David Altmaier, recognized South Carolina Department of Insurance Director, and NAIC Immediate Past President, Ray Farmer, with the NAIC President’s Award for Distinguished NAIC Leadership (President’s Award).

The President’s Award is given at the discretion of the current NAIC President and honors an NAIC member who has shown exemplary leadership; has a sustained length of industry service; and who has contributed to advancing the mission of the NAIC.

“Director Farmer has displayed exceptional leadership at the NAIC as he navigated the organization through a global pandemic, spearheaded the Special Committee on Race and Insurance, and served on the leadership teams for climate and resiliency, technology, data, privacy and cybersecurity task forces, as well as several other priority initiatives,” said NAIC President and Florida Insurance Commissioner, David Altmaier.

Following the presentation of the President’s Award, NAIC President Altmaier, announced that the NAIC President’s Award would be renamed in Director Farmer’s honor.

“It was the unanimous opinion of the NAIC officers that leadership examples such as the ones Director Farmer set for all of us and has displayed during his 53 years of industry service, are truly profiles in courage that should be memorialized well beyond handing out this award. Today, I proclaimed that the President’s Award be renamed the Raymond G. Farmer Award for Exceptional Leadership, and it is the award to be presented for exceptional NAIC Leadership from this day forward,” said Altmaier.

The NAIC President’s Award was first awarded at the 2008 Fall National Meeting to Commissioner, Jim Long. Other recipients include Commissioner Alfred Gross (2010); Commissioner, Sandy Praeger (2014); Superintendent, Joseph Torti III (2015); and Commissioner, Roger Sevigny (2017).

About the National Association of Insurance Commissioners

As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.