South Carolina Gov. Henry McMaster nominated Michael Wise to be the next director of the South Carolina Department of Insurance (DOI). Wise has worked at DOI since 2009 and currently serves as the ’agency’s acting director following the April 2022 retirement of former Director Ray Farmer. Prior to being acting director, Wise served as the agency’s deputy director of actuarial and market services.
“Wise’s leadership during his time as acting director has been exceptional. He spearheaded DOI’s response to Hurricane Ian, combatted insurance fraud, and improved consumer outreach efforts,” McMaster said. “His 14 years of experience with the agency and impressive track record has given me and many others complete confidence that he is the right candidate to lead this important agency forward.”
Wise holds a bachelor’s degree in mathematics-economics from Furman University, is an associate of the Casualty Actuarial Society, a member of the American Academy of Actuaries, and a recent graduate of the South Carolina Executive Institute. Wise is also a recent recipient of the American Academy of Actuaries’ Rising Actuary Award.
“As a native South Carolinian, I could not be more excited about this opportunity to serve the people of our state in this capacity,” Wise said. “At the department, our core mission is to protect consumers, and we plan to continue to do so by educating and maintaining effective communication with all of our partners so we can further promote a competitive and well-functioning insurance environment in the state.”
The appointment is subject to confirmation by the South Carolina Senate.
“You could not pick a finer individual to take this position,” Farmer said. ”Michael Wise is a great public servant who has compassion for our citizens and consumers. He understands their needs while recognizing South Carolina needs a healthy and viable insurance marketplace so our consumers have ample opportunity and policy options to choose from.”