Montemayor not Seeking Reappointment

Texas Insurance Commis-sioner Jose Montemayor, who oversaw the department as homeowners insurance rates skyrocketed during a mold crisis that started in 2001, has said he will not seek reappointment to the job he has held for the past six years, the Associated Press and the Dallas Morning News reported.

“It’s just time to move on,” Montemayor said. “I am incredibly proud of everybody that I’ve had to work with and the things we’ve been able to accomplish.”

Montemayor, 53, sent a letter to Republican Gov. Rick Perry indicating he will be ready to step down when his term ends Feb. 1. He has offered to stay at the job until Perry appoints a replacement.

Montemayor “has served the state of Texas with honor and distinction,” Perry said. “The Legislature has relied on his advice and counsel during a turbulent period of adjustment in the insurance market.”

Montemayor, a certified public accountant, came to the insurance department after retiring from the Air Force as a major in 1993 and served as director of insurer services and as associate commissioner overseeing licensing, solvency and market conduct.

Then-Gov. George W. Bush appointed him commissioner effective January 1999.

Montemayor was commissioner during the mold crisis that hit the homeowners insurance market from 2001 to 2003. During that time, some homeowners insurance rates dramatically increased and some insurers restricted or stopped selling homeowners coverage.

The Legislature in 2003 passed sweeping changes to how the state regulates insurance, and Montemayor says competition in that market has been restored.

“Overall, I give him good marks, he’s worked hard,” Lt. Gov. David Dewhurst said. “He’s a very, very good guy and he’s trying to do what’s best for the state of Texas.”

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