COLUMBUS – The Ohio Department of Insurance announced the retirement of Bill Rossbach, an integral part of the Department’s Financial Regulation operation for the past 35 years. Rossbach most recently served as Chief Regulatory Officer.
Rossbach joined the Financial Regulation staff in 1976 and was promoted to Assistant Director in 2003 before being named Chief Regulatory Officer in February 2008. As Chief, he managed the Department’s Risk Assessment Division; Product Regulation and Actuarial Services Division; the Fraud, Enforcement and Licensing Division; and Consumer Affairs operation.
A leader and transformational figure at the Department, Rossbach recently led the agency to its highest accreditation score from the National Association of Insurance Commissioners (NAIC) acknowledging the Department’s superior financial oversight operations, and its ability to effectively coordinate with other state insurance regulators.
During his tenure, Rossbach was instrumental in the development of a state-of-the-art financial solvency monitoring process to assure insurance companies are financially sound and able to pay claims filed by consumers. The stress-test tool has since become a model that other states are utilizing in their own insurance company financial oversight operations.
Rossbach’s retirement is effective February 28, 2011.