The District of Columbia Department of Insurance, Securities and Banking (DISB) is pleased to announce today that Commissioner Thomas E. Hampton has been reappointed as Commissioner by Mayor Adrian M. Fenty.
“My years with the agency have been truly rewarding and enjoyable, especially the last 15 months as Commissioner,” said Commissioner Hampton. “I am grateful for Mayor Fenty’s confidence in me and the opportunity to continue serving as the District’s chief regulator of all financial-service industries.”
The Council of the District of Columbia confirmed Hampton as DISB’s Commissioner on May 9, 2006, after he served as Acting Commissioner for about eight months. Before that, he was the agency’s Deputy Commissioner, who oversaw a successful merger of the former Department of Insurance and Securities Regulation with the former Department of Banking and Financial Institutions, making the District of Columbia one of a few jurisdictions in the nation where all financial services are regulated under one roof.
During his tenure, Commissioner Hampton has demonstrated strong commitment to consumer protection and access to financial services. In particular, he focused on making insurance more affordable and accessible, protecting and educating investors, expanding banking services to all communities, enhancing partnerships in enforcement and investigation, and continuing the momentum of captive insurance in the District.
Looking ahead, Commissioner Hampton is eager to implement DISB’s new comprehensive consumer protection plan including initiatives to provide coverage for uninsurable DC residents and reduce the number of uninsured motorists in the District, expand community access to DC chartered banks, and develop a government-owned captive insurance company for nonprofit health clinics operating in the District of Columbia. In addition, Commissioner Hampton is actively working on several legislative issues including a resolution to Congress to extend the Terrorism Risk Extension Act of 2007 before its sunset at the end of this year, ensuring the District of Columbia’s participation in the Interstate Compact, enacting the Securitization and Protected Cell Captive insurance bills to increase the type and size of captive companies regulated by the District, and introducing legislation to regulate the life settlements industry.
Commissioner Hampton has a bachelor’s degree in accounting from North Carolina Central University and an MBA from St. Johns University in New York. He is a Certified Public Accountant and Certified Financial Examiner. He had extensive experience in the insurance industry, especially in property and casualty insurance before joining DISB.