I spoke with former North Dakota Insurance Commissioner Jim Poolman this afternoon about his decision to step down from his position effective September 1st to start his own consulting company.

Poolman has been at the forefront of the national movement toward regulatory modernization since 2000 when he became the youngest elected insurance commissioner in North Dakota history.  He helped to spearhead the ongoing efforts between the NAIC and the NASD to develop regulatory standards for annuities in a number of areas, including suitability, and his focus on protecting consumers involved in Stranger Owned Life Insurance (STOLI) transactions has inserted a very troublesome thorn the life settlement industry's side.

Read more about my discussion with the dynamic Jim Poolman in the September issue of Mealey's Insurance Regulatory Compliance Report.