Joseph G. Murphy
Division of Insurance February 2010 to Present
Joseph G. Murphy was appointed Commissioner of the Division of Insurance on February 8, 2010.
Prior to his appointment as Commissioner, Murphy served as First Deputy Commissioner with oversight of the day-to-day operations of the Division of Insurance and its 130 employees and $14.5 million budget.
As the chief regulator of the insurance industry in Massachusetts, Commissioner Murphy has played an active role in the implementation of the auto insurance reform, stabilizing health insurance costs for individuals and small businesses across the Commonwealth, and ensuring the solvency of Massachusetts domiciled insurers.
Since taking office, Murphy has been a leader in the Commonwealth's efforts to contain the cost of health insurance in Massachusetts while maintaining access to quality care. Under his leadership, the Division of Insurance exercised its statutory authority to scrutinize proposed health insurance rates resulting in savings of over $100 million for Massachusetts businesses and working families. Murphy also played a key role in Governor Patrick's efforts to reform the Massachusetts automobile insurance marketplace in 2008. Managed competition in auto insurance has attracted 15 new companies into the state - including some of the largest carriers in the country - and has saved good drivers across the Commonwealth over $500 million on the cost of their auto insurance as well as introducing innovative products for Massachusetts consumers.
Murphy is active in the National Association of Insurance Commissioners ("NAIC"), leading and serving on a number of committees, including the, Government Relations Leadership Council, Property and Casualty Insurance Committee, Antifraud Task Force, the National Insurance Producer Registry Board of Directors and the International Insurance Relations Leadership Group.
In December of 2013 he was elected for the second time by his peers to serve as Treasurer of the Interstate Insurance Product Regulation Commission (IIPRC), the organization which enables state regulators to develop uniform national standards for asset protection insurance products such as annuities, disability income, life and long-term care insurance.
A native of Quincy, Massachusetts, Murphy holds a Bachelor of Arts degree in history and political science and resides in Charlestown.