Vermont Names 2 to Top Department of Financial Regulation Posts

Vermont Governor Phil Scott has named Kevin Gaffney as commissioner of Vermont's Department of Financial Regulation (DFR) and Emily Brown as the DFR's deputy commissioner of insurance.

The DFR is responsible, among other things, for ensuring industry partners in the areas of banking, insurance, securities, and captive insurance operate responsibly.

"Both Kevin and Emily bring incredible experience to their new roles. Their knowledge of the state, the department, and the industries will make sure DFR's reputation for extensive expertise and service continues," Governor Scott said in a statement.

Mr. Gaffney has served as interim DFR commissioner since May 5 and as deputy commissioner of insurance since 2019. Prior to that, he had other roles in the department for more than a decade. Mr. Gaffney also has 23 years of experience in a variety of marketing, underwriting, and product management positions in both Vermont and Connecticut.

Ms. Brown most recently worked as the DFR's director of insurance regulation, where she was involved in healthcare policy and insurance coverage issues.

The appointments of Mr. Gaffney and Ms. Brown follow the recent naming of veteran Vermont captive regulator Sandy Bigglestone to succeed Dave Provost as deputy commissioner of the DFR's Captive Insurance Division when Mr. Provost retires at the end of this summer.

With 620 captives at the end of 2021, Vermont is the largest captive insurance domicile in the United States.