In July 2022, Kevin Gaffney was appointed Commissioner of the Department of Financial Regulation by Governor Phil Scott. He had been serving as Interim Commissioner since May, when former Commissioner Michael Pieciak announced his intention to leave the Department and run for State Treasurer.
“I feel honored and humbled by the opportunity to lead such an engaged and committed group of financial regulatory professionals. The responsibility of being the chief financial regulator in the state is not something I take lightly,” Commissioner Gaffney said. “Protecting the financial well-being of Vermont consumers while maintaining a robust and vibrant financial services marketplace that provides valuable benefits and services to all Vermonters is a key mission at DFR, and I intend to expand our focus and outreach in these areas,” said Gaffney.
In March 2019, Mr. Gaffney was named DFR Deputy Commissioner of Insurance. Prior to that for more than 12 years, he served as Director in the Insurance Division Rates & Forms section where he was responsible for rate-and-form analysis, oversight of marketplace competition and leadership of the Rate & Form Analysis Team. Other positions held include Director of Producer & Individual Licensing and Director of Market Regulation. Commissioner Gaffney possesses technical expertise on various insurance issues; he has assisted in the development of departmental positions and contributed bill analysis and testimony during the legislative session. He was a key participant in several legislative summer studies conducted by DFR, including the “Credit for Personal Insurance” and “Workers’ Compensation Insurance” studies, and he serves on the Governor’s Workers’ Compensation Insurance and Logger Safety Task Force.
“Kevin brings a strong balance of industry experience and leadership along with a regulatory discipline that will serve Vermonters well,” Governor Scott said. “DFR’s work is critical to my administration’s efforts to make Vermont more affordable and protect the most vulnerable through strong regulatory oversight and Kevin brings the experience and perspective to support those efforts.”
Prior to joining the State of Vermont, Commissioner Gaffney acquired 23 years of industry experience working in marketing, underwriting and product management positions in Connecticut and Vermont. He began his insurance career in Connecticut as a multi-line (P&C, L&H) insurance agent. A graduate of John Jay College and lifelong New Englander, Mr. Gaffney is a native of Connecticut and has lived in Vermont since 1994. He and his wife Veronica have three children and five grandchildren.