COLUMBIA, S.C. – Governor Henry McMaster today announced that Raymond G. Farmer will continue serving as director of the South Carolina Department of Insurance (SCDOI). First appointed as director by former Governor Nikki Haley in November of 2012, Director Farmer has focused on growing and regulating the state’s insurance industry fairly, helping and protecting consumers, and incentivizing competition in the marketplace by increasing the number of insurance companies in the state.
“Because of his expertise and his unimpeachable reputation within the insurance industry, Director Farmer has been recognized by his peers across the country as one of the best in the business,” said Gov. Henry McMaster. “Team South Carolina is stronger because of Director Farmer, and I’m grateful for the opportunity to continue to work with him.”
Farmer was recently elected president of the National Association of Insurance Commissioners and will begin serving in 2020.
“I am honored to continue to serve at the Department of Insurance under Governor McMaster's leadership,” Director Farmer said. “Over the past 6 years we have seen growth in the insurance industry all while making sure consumers are protected. I look forward to additional progress over the next 4 years as I serve the citizens of this state.”
Under Director Farmer’s leadership, SCDOI has recruited and added over 80 new property insurers, helped nearly 1,000 consumers shop their insurance through the agency’s Market Assist program, and has automated the entire system for consumer services and licensing, which provides easier access for businesses and consumers alike.
Since January 2013 the department has recovered nearly $17 million in insurance-related payments for consumers through the investigation and resolution of over 16,000 consumer complaints. In 2018, Director Farmer helped South Carolina become the first state in the nation to pass a comprehensive data security bill that requires insurance companies to protect the data of their consumers.