Agents’ Favorite Sink Sinks Lee in Florida CFO Contest

November 9, 2006

With a victory in the race for Florida’s Chief Financial Officer, banker and business leader Alex Sink, a Democrat, will take on multiple tasks within the Florida State Cabinet, not the least of which is oversight of the Office of Insurance Regulation.

A 53.6 percent to 46.4 percent lead over Republican opponent and state senate president Tom Lee cemented Sink’s upcoming position.

As CFO, Sink will have some say in whether to retain the current insurance commisisoner, Kevin McCarty, or replace him.

Sink said she is very pleased that her campaign bore fruit. She said her immediate priority is to establish a “sound transition process” and to “hit the ground running.”

Sink is acutely aware of the weighty insurance issues she must address right off the bat: “By the time I take office in January, there will have been several suggestions concerning insurance issues.”

Sink said she believes outgoing Gov. Jeb Bush will go ahead with a proposed special session in Tallahassee to discuss property and casualty insurance reform in early December.

Jeff Grady, president of the Florida Association of Insurance Agents, said his organization is ecstatic over Sink’s victory.

“The voters saw it clearly,” Grady said. “They didn’t vote on politics – they voted on qualifications. It’s a good day.”

His organization had backed Sink. On choosing the winning candidate, Grady said, “It’s good to be right.”

Lee told Insurance Journal the defeat would allow him to “get re-engaged in my personal life.”

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