Sen. Carson to serve on Insurance and Financial Services Committee

Posted: December 29, 2016 | Insurance and Financial Services, Senator Carson

AUGUSTA — Sen. Brownie Carson, D-Harpswell, has been appointed by the Senate President to the Legislature’s Joint Standing Committee on Insurance and Financial Services, making him the Senate Democrats’ leading voice on consumer protection, banking and health insurance policy.

Sen. Brownie Carson, D-Harpswell.

Sen. Brownie Carson, D-Harpswell.

“I’m honored to join my colleagues on the committee, and look forward to our work together,” said Sen. Carson. “I’m interested in supporting local, community banks that support Maine business enterprises and families with top-level services, and are accountable to their customers. We need to pass policy to support these institutions, while also enforcing regulations that protect Mainers from the excesses of big finance and banking firms. Consumer protection is a high priority.”

“Insurance exists to protect policyholders from financial ruin in the wake of the unexpected, whether that’s a cancer diagnosis or a car accident,” said Sen. Carson. “At a time of great uncertainty and high costs in the health industry, I will do my best to make health care accessible and affordable for all Mainers.”

The committee has jurisdiction over several agencies that regulate Maine’s financial and insurance industries or protect consumers, including the Bureaus of Financial Institutions, Consumer Protection and Insurance; the Office of Securities; Dirigo Health Agency; State Employee Health Commission; and Maine Employers Mutual Insurance Company.

It also oversees policy regarding banking; financial institutions; credit unions; consumer credit; mortgage lending; foreclosure prevention; stocks, mutual funds, bonds and other securities; financial services; credit, automobile, life, property and casualty insurance; health insurance; health insurance maintenance organizations; mandated health benefits; health care reform; state employee group health plans; insurance rating, regulation and practices; insurance producers; licensing; workers’ compensation insurance; self-insurance; viatical and life settlement contracts; and real estate practices.