Therese “Terri” M. Vaughan received her B.B.A. in insurance and economics from the University of Iowa, then earned a Ph.D in risk and insurance at the Wharton School of the University of Pennsylvania. She is a CPCU, an Associate of the Society of Actuaries, an Associate of the Casualty Actuarial Society, and a member of the American Academy of Actuaries.
Dr. Vaughan became Iowa insurance commissioner on August 1, 1994. She served as president of the National Association of Insurance Commissioners (NAIC) in 2002 and remains active in that organization. Currently, her NAIC efforts are focused on cross-sectoral issues and the NAIC’s Washington activities. As chair of the NAIC’s government affairs taskforce, she is responsible for NAIC liaison with other governmental groups, including the U.S. Congress, federal and state banking regulators, the US Treasury and state legislators. She is the NAIC representative to the subcommittee on financial conglomerates of the International Association of Insurance Supervisors (IAIS), and she represents the NAIC and IAIS on the joint forum, an international body of banking, insurance and securities regulators.
During her tenure, Commissioner Vaughan focused on efforts to streamline and improve the efficiency of insurance regulation, both in Iowa and nationally. She led the effort to reengineer the NAIC’s financial database and database tools, to streamline the annual statement filing process for companies, to build a national producer licensing system, and to create a one-stop filing system for life insurance products through an interstate compact.