New Hampshire Insurance Commissioner DJ Bettencourt Backs Historic Nomination of Commissioner Gordon I. Ito to Financial Stability Oversight Council

CONCORD, NH (June 28, 2024) – New Hampshire Insurance Commissioner DJ Bettencourt today announces his enthusiastic support for Commissioner Gordon I. Ito's nomination to the Financial Stability Oversight Council (FSOC) in a letter addressed to Senators Jeanne Shaheen and Maggie Hassan.

Commissioner Bettencourt highlighted Commissioner Ito's extensive experience and exceptional qualifications, having served as the Hawaii Insurance Commissioner from 2010 to 2018 and again in 2022. "His focus on insurance companies' investments, particularly in commercial mortgages and weather-related disasters, showcases his expertise and dedication," Commissioner Bettencourt stated.

Commissioner Ito's nomination is particularly noteworthy as it marks the first time an Insurance Commissioner has been nominated to this prestigious post. This milestone brings a unique and critical perspective to FSOC, emphasizing the importance of including state insurance regulators in national financial stability discussions.

"Commissioner Ito's character, work ethic, and ability to collaborate—even in disagreement—make him an outstanding candidate for FSOC," said Bettencourt. "I strongly support Commissioner Ito's nomination and urge the Senate to recognize the importance of granting state insurance regulators a vote on FSOC. As primary regulators of the U.S. insurance sector, it is crucial that our perspective is represented in FSOC decisions."

Commissioner Bettencourt appreciates the consideration of Senators Shaheen and Hassan in supporting this historic nomination and believes Commissioner Ito's appointment will significantly contribute to the effectiveness and inclusivity of the Financial Stability Oversight Council. 

The New Hampshire Insurance Department Can Help
The New Hampshire Insurance Department’s mission is to promote and protect the public good by ensuring the existence of a safe and competitive insurance marketplace through the development and enforcement of the insurance laws of the State of New Hampshire. Contact us with any questions or concerns you may have regarding your insurance coverage at 1‐800‐ 852‐3416 or (603) 271‐2261, or by email at [email protected]. For more information, visit https://insurance.nh.gov.