Michigan Department of Insurance and Financial Services

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Department of Insurance and Financial Services
Department overview
FormedMarch 19, 2013 (2013-03-19)
Preceding Department
  • Office of Financial and Insurance Regulation
HeadquartersLansing, Michigan
Department executive
  • Anita G. Fox[1], Director
Child agencies
  • Office of Banking
  • Office of Consumer Finance
  • Office of Consumer Services
  • Office of Credit Unions
  • Office of Financial and Administrative Services
  • Office of General Counsel
  • Office of Insurance Evaluation
  • Office of Insurance Licensing and Market Conduct
  • Office of Insurance Rates and Forms
  • Office of Policy, Research and Communication
Key documents

Michigan Department of Insurance and Financial Services (DIFS), formerly the Office of Financial and Insurance Regulation, is a principal department in the Michigan executive branch with responsibility for insurance and financial institutions.



Governor John Engler created the Office of Financial and Insurance Regulation as a Type I agency within the Michigan Department of Consumer and Industry Services to be headed up by a commissioner appointed to a four-year term. The Corporations, Securities and Land Development Bureau's security functions and all functions of the Insurance Bureau and Financial Institutions Bureau were transferred to the office.[2]


On January 17, 2013, Governor Rick Snyder ordered that the Office of Financial and Insurance Regulation (OFIR) be transfer out of the Michigan Department of Licensing and Regulatory Affairs to form a new principal department, the Michigan Department of Insurance and Financial Services, effective March 19, 2013.[3] The Commissioner of the OFIR, Kevin Clinton, was selected to be the first department director. The Governor formed the department in hopes of better regulations thus drawing more insurance and banking companies to the state thus leading to more jobs.[4]

In May 2013, the DIFS ordered two unlicensed pay day loan operators to stop activities in Michigan.[5] In June, an Ingham County Circuit Judge order the liquidation of American Fellowship Mutual Insurance Co. from a request from DIFS with the Department Director selected as liquidator.[6] On November 1, OFIR chief deputy commissioner and department's chief deputy director Annette E. Flood was appointed to head the department.[7]

The department placed Clarkston Brandon Community Credit Union into Conservatorship with the National Credit Union Administration as conservator in January 2015 after $20 million was stolen by CFO Michael LaJoice since 2013.[8] On May 18, 2015, Pat McPharlin took over the position of department director from Flood.[9] Governor Snyder in September 2018 ordered the formation an Anti-Fraud Unit criminal justice agency to investigate auto and health insurance and finance related crimes.[10]

Anita Fox was appointed by Gov. Gretchen Whitmer on Dec. 27, 2018. Director Fox officially began her tenure as director of the Michigan Department of Insurance and Financial Services (DIFS) on Jan. 14.[1]


  1. ^ a b "Fox Takes Over as Michigan Insurance Department Director". Insurance Journal. 16 January 2019.
  2. ^ Executive Order 2000-2.
  3. ^ "Snyder creates insurance, financial services oversight department". The Detroit News. January 17, 2013. Archived from the original on February 15, 2013. Retrieved 23 January 2013.
  4. ^ Gautz, Chris (January 17, 2013). "Snyder creates new insurance, financial services department". Crain's Detroit Business. Retrieved June 5, 2013.
  5. ^ Anders, Melissa (May 17, 2013). "Michigan regulators target unlicensed pay day lenders". Mlive. Retrieved June 5, 2013.
  6. ^ "Michigan Orders American Fellowship Mutual Insurance into Liquidation". Insurance Journal. June 19, 2013. Retrieved 7 July 2013.
  7. ^ "Flood, Ann". MIRS Biographical Profiles. MIRS. Retrieved February 10, 2015.
  8. ^ Ridley, Gary (January 15, 2016). "Credit union under state control after alleged $20 million embezzlement". Flint Journal. Mlive Media Group. Retrieved February 4, 2016.
  9. ^ Greene, Jay (April 7, 2015). "McPharlin named new director of Michigan Department of Insurance and Financial Services". Crain's Detroit Business. Retrieved December 15, 2017.
  10. ^ "Snyder forms new anti-fraud division in insurance department". ABC12.com. WJRT. AP. September 11, 2018. Retrieved September 12, 2018.