Governor Phil Scott announced the appointment of Kevin Gaffney as Commissioner of the Department of Financial Regulation in July of 2022. Gaffney was appointed Interim Commissioner on May 5th, 2022, after former Commissioner Michael Pieciak announced his intention to leave DFR 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,” said Gaffney. “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.
“Kevin brings a strong balance of industry experience and leadership along with a regulatory discipline that will serve Vermonters well,” said Governor Scott. “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.”
Kevin was appointed Deputy Commissioner of Insurance of DFR by Governor Phil Scott in March 2019. Prior to the appointment, he had worked as Director in the Rates & Forms section of the Vermont Insurance Division for over 12 years. Kevin has been responsible for rate and form analysis as well as monitoring of competition in the marketplace, while leading the Rate & Form Analysis Team. In addition, Kevin has served as Director of the Producer & Individual Licensing section. Additionally, Kevin had responsibility for Market Conduct for Property & Casualty Lines as Director of Market Regulation.
Prior to working for the State of Vermont, Kevin had 23 years of industry experience in various marketing, underwriting, and product management positions in Connecticut and Vermont. Kevin began his insurance career in Connecticut as a multi-line (P&C, L&H) insurance agent.
Kevin has served as a technical expert for the Insurance Division on a variety of insurance issues, assisting with the development of departmental positions expressed through regulations, bulletins, or filing requirements. He has also assisted the Department with bill analysis and testimony during the legislative session.
Kevin has been a key participant in several legislative summer studies conducted by DFR, including the “Credit for Personal Insurance” and “Workers’ Compensation Insurance” studies. Additionally, he serves on the Governor’s Workers’ Compensation Insurance and Logger Safety Task Force.
A graduate of John Jay College and lifelong New Englander, Kevin is a native of Connecticut and has lived in Vermont since 1994. He and his wife Veronica have three children and five grandchildren.
Michael S. Pieciak was first appointed by Governor Peter Shumlin in July 2016 and reappointed by Governor Phil Scott in December 2016. He subsequently stepped down to run for Vermont Treasurer in May 2022.
BA, Union College, cum laude, political science
JD, University of Miami School of Law, summa cum laude
Susan L. Donegan 1/10/2013 – 6/30/2016
JD, Vermont Law School
LL.M., Banking & Financial Services Law, Boston University School of Law
LL.M., European Union and International Trade Law, Amsterdam Law School at Universiteit van Amsterdam.
Stephen W. Kimbell 1/7/2011 – 1/9/2013
BA, University of Illinois
JD, University of Michigan
Michael Bertrand 6/2010 – 1/6/2011
Fordham Law School
Pennsylvania State University