Jake Garn

Director, Financial Regulation & Licensing Division @Utah Department Of Health

Director of the Financial Examination and Analysis Division of the Utah Insurance Department. I\'ve led the effort to hire, educate and coordinate a team of professional financial examiners and analysts. We are agile in adapting to the fast pace of change in regulation and the insurance industry, because we are rooted in the human and business fundamentals that are relatively unchanging. Over the past 8 years we have fully implemented the NAIC\'s \"risk focused approach\" to examinations. In the last two years we have seen an average 25% improvement in the efficiency of our exams reducing costs to insurers and policyholders. Our goal is to increase the quotient of exam quality over expense by an additional 25% over the next four years.I currently serve as the Chair of the NAIC Blanks Working Group, Vice Chair of the Capital Adequacy Task Force and the Valuation of Securities Task Force. It is important that all concerned parties have the opportunity to provide input on proposed changes. At the same time it is no less important we strive to be efficient and timely in adapting regulatory standard practices to changes in the industry both at home and abroad.