Maine Insurance Bureau Superintendent Robert Carey Retires Amid Regulatory Achievements

The Maine Department of Professional and Financial Regulation has announced the retirement of Superintendent Robert Carey from the Bureau of Insurance (BOI) on June 5. Appointed by Governor Janet Mills in 2024 and confirmed by the state Senate, Carey has played a pivotal role in overseeing insurance sector regulation and managing compliance requirements.

Throughout Carey’s tenure, initiatives led to substantial savings for Maine homeowners and automobile policyholders, ensuring the state’s auto insurance rates remain among the nation’s lowest. His proactive participation in the Governor’s Infrastructure Rebuilding and Resilience Commission boosted resources that enhance protection against extreme weather, receiving crucial legislative support.

Reflecting on his service, Carey remarked, "It has been an honor to lead the Bureau... to address the challenging issues in the insurance markets and support the needs of Maine people and businesses." Governor Mills highlighted Carey’s significant impact, acknowledging his vital role in managing a dynamic insurance environment. Joan Cohen, Commissioner of the Department of Financial and Professional Regulation, praised Carey’s dedicated expertise, noting his substantial contributions to the state.

Under Carey's leadership, the Bureau of Insurance prevented $5.8 million in potential rate increases for auto and homeowner policies in 2025 and recovered over $4.5 million by addressing consumer complaints. Following state regulations, Deputy Superintendent Tim Schott will be the Acting Superintendent upon Carey’s departure, continuing the bureau’s mission. Additional information about the Bureau’s activities is available on its official website.