Governor Henry McMaster announced this week the retirement of SC Dept. of Insurance (SCDOI) Director Ray Farmer after nine years of service, effective April 15, 2022.
"Under the leadership of Director Farmer, the S.C. Department of Insurance has taken great strides in protecting the interests of consumers and adapting to an ever-changing insurance marketplace," said Governor McMaster. "Through innovative consumer protection policy, natural disaster education programs, and by expanding career advancement opportunities for SCDOI employees, Director Farmer has led the agency to new heights and built a strong foundation for the future. South Carolina is better because of Director Farmer’s tireless service to our people.”
Director Farmer was appointed to lead SCDOI in 2012 by former Governor Nikki Haley, and Governor McMaster asked him to continue serving in the same position in 2018. During his tenure, Director Farmer focused his efforts on consumer protection. He oversaw the adoption of the S.C. Insurance Data Security Act in 2018, the adoption of the Private Flood Insurance Act in 2020, and established the Insurance Fraud Division at SCDOI in 2021. Director Farmer also served as the President of the National Association of Insurance Commissioners and served on the S.C. Floodwater Commission.
IIABSC named Dir. Farmer Industry Person of the Year in 2014 and Chair of the Board Jay Taylor recognized him again in 2021 for his service to the industry and citizens of the state. We appreciate how he worked with independent agents as partners in his mission of service to the citizens of South Carolina.
“I would like to thank Governor McMaster for allowing me to serve the citizens of South Carolina as Director of the Department of Insurance. Under his leadership, and the leadership of his predecessor who appointed me, former Governor Haley, I can say that after 53 years in the insurance industry, this is truly the best job I’ve ever had. It has been an honor to work alongside my team of dedicated public servants for the last nine years as we strived to make life better for every consumer in the Palmetto State," said Director Farmer.
Deputy Dir. of Actuarial and Market Services Michael Wise will serve as Acting Director until the governor appoints a new director, confirmed by the S.C. Senate.