Under federal law, who must grant written consent for someone convicted of a crime to work in insurance?

Under federal law, the authority to grant written consent for someone convicted of a crime to work in the insurance industry specifically lies with an insurance regulatory official. This requirement is established to maintain the integrity of the insurance market and ensure that individuals involved in the industry are deemed fit to handle financial matters, especially after a criminal conviction. Insurance regulatory officials are responsible for enforcing regulations that govern the conduct of insurance professionals, and part of that responsibility includes evaluating and granting permissions related to backgrounds that may reflect on an individual's ability to perform their duties reliably and ethically.

This mechanism helps to uphold consumer trust and protect the stability of the insurance system. The role of the insurance company CEO does not encompass making these regulatory decisions, nor is such consent typically granted by a state governor or a federal judge. The focus is on regulatory compliance and the protection of the industry rather than administrative decision-making by executives or state and federal authorities outside the insurance regulatory framework.