Bismarck, ND - Insurance Commissioner Jim Poolman announced that he is stepping down from his position to start his own consulting company. He informed Governor John Hoeven formally by letter this morning.
"After much thought, I have decided the timing is right for me personally and especially for my family," Poolman said.
Poolman's departure will take effect September 1st. He will start a consulting firm specializing in insurance regulatory issues and compliance. His company will be based in Bismarck and will work with clients across the country.
"This opportunity is just one I couldn't refuse," Poolman said. "I have been presented opportunities in the past, but they required me to leave North Dakota, and this wasn't an option for me or my family. Running my own consulting company allows me to stay in North Dakota and better provide for my family," he added.
Poolman stated, "The Insurance Department will be left in good hands with people that want to continue to help consumers. They are some of the best and brightest in state government who truly care about our citizens."
Poolman was originally elected in 2000 and was re-elected by a wide margin in 2004. He was the youngest elected insurance commissioner in North Dakota history. Prior to taking office he worked as a trust officer at Bremer Bank, and was elected for four consecutive year terms to the North Dakota House of Representatives from Grand Forks.
"I am incredibly thankful for the honor of serving the people of North Dakota," Poolman said. "Although I am leaving elected office for now, I am committed to North Dakota and seeing it grow and prosper. I will continue to be active in public affairs and service to the people of North Dakota."