James R. Mumford is First Deputy Commissioner of the Iowa Insurance Division and also is Securities Administrator which is the lead position for the Iowa Securities Bureau.
Mr. Mumford graduated from Iowa State University in 1960 with a degree in agriculture economics. He graduated from Harvard University Law School in 1963.
Mr. Mumford has worked in the insurance industry since 1965 starting in private practice. In 1970 he became counsel with Equitable Life Insurance Company of Iowa. In 1976 he started a law firm specializing in insurance related matters. He worked extensively in insurance related matters including variable annuity and indexed annuity products, pension and tax matters, and financial and corporate governance matters. In 1997, he joined ING Americas as Chief Counsel, Corporate Affairs and also later undertook the duties of Chief Counsel, Special Projects. During that time he was general counsel of several ING insurance subsidiaries and furnished oversight on ING state government relations activities. In 2003, he retired from ING and became Of Counsel with Nyemaster, Goode, West, Hansell & O'Brien Law Firm in Des Moines, Iowa. In 2005 he was appointed to his current position.
Mr. Mumford was active in the National Organization of Life and Health Guaranty Association (NOLHGA) where he was a member of its legal committee for 5 years (chair 2 years), member of its audit committee for 3 years (chair 1 year), member of its executive committee for 3 years (chair 1 year), member of its Board of Directors for 6 years (chair 1 year), member of its financial modernization committee for 3 years and co-chaired its Guaranty Association Modernization Task Force for 2 years.
During his career, Mr. Mumford was active with the National Association of Insurance Commissioners (NAIC) on behalf of his clients. He was also active representing member companies of the American Council of Life Insurers (ACLI).
Mr. Mumford represents the Iowa Insurance Division by serving on various NAIC Working Groups and Task Forces including currently chairing the NAIC Receivership and Insolvency Task Force and a working group reviewing the NAIC Annuity Disclosure Model Regulation.