Annapolis, Md. – December 3, 2012 – The Maryland Automobile Insurance Fund (MAIF) announced the selection of Paul Deter as Fiscal Director, effective November 28, 2012. Mr. Deter brings to MAIF more than twenty-five years of industry experience.
Mr. Deter has extensive financial experience in the insurance industry, having served as CFO for Sun States Insurance Group in Atlanta, GA, Controller for Symons International Group in Atlanta, GA, CFO/COO for Knox Holdings in Dallas, TX, and Southeast Regional Controller for Safeco Insurance Companies in Atlanta, GA.
Most recently, Mr. Deter served as Partner of Montreat Consulting in Princeton, NJ, in charge of expanding insurance-related business opportunities. Prior to that, Mr. Deter was Vice President of Internal Audit, and previously, Vice President and Controller for an East Rutherford, NJ holding company. In that role, he was responsible for managing an investment portfolio in the billions with an operational budget of more than $100M.
“I welcome Paul to our MAIF family. We are eager to bring his proven history of leadership and experience in the insurance industry to MAIF. With his counsel, MAIF will continue its more than twenty-year record of strong financial results, sophisticated investment strategies, and cutting-edge operational efficiencies,” said MAIF Executive Director M. Kent Krabbe.
Mr. Deter shared his excitement for joining MAIF, and said that he is looking forward to the opportunity to, “leverage my background and enhance the balance and efficiency of the organization.”
Mr. Deter earned bachelor’s degrees in Business Administration in the fields of Operations Management and Accounting, as well as a Master of Business Administration in International Business and Finance from Georgia State University.
MAIF was created by the Maryland State Legislature in 1972 for the purpose of providing automobile liability insurance for those residents of the State of Maryland who are unable to obtain it elsewhere in the private insurance market. MAIF receives its operating funds from insurance premiums paid by policyholders, and receives no funding from taxpayers via the Maryland General Fund.
MAIF Communications Specialist