State Insurance Regulators Hold Session on Race and Insurance
August 19, 2020 by Allison Bell
“I don’t think there’s a better way to build wealth than a life insurance policy,” Nichols said last week, at a special session on race and insurance that was organized by the National Association of Insurance Commissioners (NAIC).
Nichols is the president and chief executive officer of the American College of Financial Services. He has been the marketing director for Blue Cross and Blue Shield of Kentucky, the Kentucky insurance commissioner, the president of the NAIC, and an executive vice president at New York Life Insurance Company.
Nichols said that he held those positions partly because a Paul Patton a former Kentucky governor, and Seymour Sternberg, a former New York Life CEO, helped him. He said that shows the power of another tool for increasing diversity and reducing inequality: CEO sponsorship.
