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PIA Study in 1990 Found Regulators Used "Revolving Door" to Industry

A study released by PIA in 1990 found that approximately half of the state insurance commissioners commissioners who left office went to work for the...
December 21, 2006

A study released by PIA in 1990 found that approximately half of the state insurance commissioners commissioners who left office went to work for the industry either directly, or indirectly providing legal, accounting or consulting services. The PIA study conducted in cooperation with the Consumer Insurance Interest Group (CIIG) examined state insurance commissioners'' employment prior to taking office, their tenure in office, and the positions assumed by the commissioners who left office between 1984 and 1989.

The study also found that 38 percent of commissioners worked for the industry before taking office and that industry employment was interrupted by very short terms -- an average of 3.3 years -- as commissioner. The study addressed only commissioners and did not address the question of what happens to all the other regulators, many of whom hold key positions in their departments.

At the time the study was released, PIA recommended a one-year waiting period before a commissioner could take a job in the industry.

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