David Parsons, deputy commissioner for Life & Health, has been awarded the Robert Dineen Award, the highest honor an insurance regulator can receive.
Parsons shared the honor with Rich Robleto, who holds a similar position with the Florida Office of Insurance Regulation. They were honored for their work on the development of the Interstate Compact, which provides the framework for all states to work collaboratively. They were presented with the award Sunday evening at the NAIC annual meeting in New Orleans.
The Compact will provide a means for companies to be able to get products to market in a quicker fashion and improve consumer choice. Under Parsons’ and Robleto’s leadership, the working group developed national standards for 23 insurance products in less than a year.
“I am extremely excited for David. He deserves this honor,” said Commissioner Walter A. Bell, who nominated Parsons for the award. “This award speaks to David’s hard work, and speaks to the work our Department is doing on a daily basis. I am thrilled for him and for our Department.”
Parsons, who has been with the Department for 29 years, was not aware that he had even been nominated for the award. Award winners are chosen by a committee that includes commissioners from states who do not have nominees.
“It’s such a wonderful honor,” he said. “And I’m proud to be on there with Rich Robleto. Having submitted names in the past, I know what these award means. And I’m happy for our Department because I’ve had a lot of help from a lot of wonderful people on this project.”
Parsons is the first Alabamian to receive the award in its 16-year history.