(The Center Square) – New leadership has been appointed to the Vermont’s Department of Financial Regulation.
Gov. Phil Scott announced that Kevin Gaffney has been named as commissioner of the Department of Financial Regulation, and Emily Brown has been appointed as deputy commissioner of insurance within the department.
Gaffney will earn an annual salary of $134,388.80 as commissioner of the department, while Brown will earn $122,699.20 in her role within the department, according to information from the governor’s office.
“Both Kevin and Emily bring incredible experience to their new roles,” Scott said in a release. “Their knowledge of the state, the department and the industries they serve will make sure DFR’s reputation for extensive expertise and service continues. Kevin brings a strong balance of industry experience and leadership along with a regulatory discipline that will serve Vermonters well. With Emily’s legal, legislative and regulatory experience, she will be hugely beneficial to the administration’s work to address the many challenges facing the health care system, affordability for Vermonters, and beyond.”
The department, according to the release, works to protect consumers in order for businesses in banking, insurance, securities, and captive insurance are able to operate and have access to information and guidance in the state.
According to the release, Gaffney has been serving since May 5 in an interim role and served as deputy commissioner of insurance for the past three years. Previously, he worked in roles of increasing responsibility within the department over the past 10 years.
“I feel honored and humbled by the opportunity to lead such an engaged and committed group of financial regulatory professionals,” Gaffney said in the release. “The responsibility of being the chief financial regulator in the state is not something I take lightly. Protecting the financial well-being of Vermont consumers while maintaining a robust and vibrant financial services marketplace that provides valuable benefits and services to all Vermonters is a key mission at DFR and I intend to expand our focus and outreach in these areas.”
Brown, according to the release, serves as director of insurance regulation in the department with a focus on health care policies and issues pertaining to insurance coverage. In her work, she guided analysis that eventually added hearing benefits to the state’s Qualified Health Plans.
“I am honored to have this opportunity to continue to serve Vermonters with the support of the great team at DFR,” Brown said in the release. “I look forward to continuing our work to keep our markets sustainable and ensure consumers are protected.”