Bell Leaving Alabama Insurance Post

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Walter A. Bell, the first Alabamian to serve as president of the National Association of Insurance Commissioners, will be leaving his position as state insurance commissioner at the end of August, Gov. Bob Riley announced.

“It has been my genuine honor to serve as commissioner of the Alabama Department of Insurance,” Bell said. “I appreciate the opportunity afforded to me by Gov. Riley. I also appreciate the hard work and dedication from our wonderful team at the Alabama Department of Insurance. I am excited as to what the future holds for the Department of Insurance, and I am excited about the challenges ahead for me.”

Riley named Bell Alabama’s chief insurance regulator in January 2003. He served a one-year term as president of the National Association of Insurance Commissioners in 2007. This year, he has served on the NAIC Executive Committee as past president and also as chair of the International Insurance Relations Committee.

Under Bell’s leadership, the Alabama Department of Insurance has streamlined operations, making it easier for consumers and industry to access the Department’s services. Also, the Department regained accreditation by the NAIC.

At the NAIC, Bell’s tenure as president was highlighted by several efficiency initiatives to streamline insurance regulation. His work on international issues led to his election as vice chairman of the International Association of Insurance Supervisors. He also serves on the executive committee of that organization.

Prior to becoming an insurance regulator, Bell had a 20-years-plus career in financial services. After serving as a banker in his native Mobile, Bell joined The MONY Group as a financial professional in 1983. He served as national director for Emerging Markets before being named the company vice president for Diversity Marketing.

Source: Alabama Department of Insurance