Vermont Gov. Scott Names Financial Services, Insurance Regulators

Vermont Governor Phil Scott has appointed Kevin Gaffney as commissioner of the Department of Financial Regulation (DFR) and Emily Brown as the department’s deputy commissioner of insurance. Both appointments are effective immediately.

The DFR regulates banking, insurance, securities and captive insurers.

Vermont’s former chief financial services regulator, Mike Pieciak, resigned on May 5 and days later announced that he is running to be state treasurer.

Gaffney has served as interim DFR commissioner since May 5, and as deputy commissioner of insurance since 2019. Prior to that, he had roles of increasing responsibility within the DFR for more than a decade. He has served as a technical expert for the insurance division on a variety of insurance issues, assisting with regulations, bulletins or filing requirements. Before working for the state of Vermont, Gaffney had 23 years of industry experience in various marketing, underwriting, and product management positions in Connecticut and Vermont.

Brown is succeeding Gaffney as deputy commissioner of insurance. Most recently she served as the director of insurance regulation at DFR, focusing on health care policy and insurance coverage issues. She led the analysis to add hearing aid benefits to the qualified health plans in Vermont and is currently leading several initiatives to examine the state’s health insurance industry. Before joining the department, Brown clerked at the Office of Legislative Council and continues to serve as a subject matter expert for health insurance legislation.

Topics
Vermont