Economic outlook.

• Author: Maley, Frank
• Position: Interview

For three years, Wayne Goodwin was state Insurance Commissioner Jim Long's understudy. In November, voters picked Goodwin to succeed Long, who made his reputation battling auto insurers over rate hikes and will step down this month after 24 years in office. A Richmond County native, Goodwin, 41, practiced law 13 years, served in the General Assembly for eight and became assistant insurance commissioner in 2005.

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Can we expect you to continue Jim Long's approach to insurance regulation?

Well, I'm certainly my own person. I have a different management style. I think it is vital that the insurance commissioner always champion two primary goals: affordable, accessible insurance and a competitive insurance market with solvent companies.

Those goals often conflict.

You have to strike a balance. Consumers are harmed if there's not a competitive insurance market with solvent companies, and it certainly doesn't help the insurance market if the rates are such that people can't afford them.

Has the department struck a balance?

I think so, But we have seen the marketplace and the economy change tremendously just in the last three years, so it requires the next insurance commissioner to revisit the ways that rates are set.

The Competitive Enterprise Institute (Economic Outlook, July) says our automobile-insurance system is "the very worst in the country."

If you ask consumers and businesses in the state how we have done, I would confidently say that they disagree with the institute's findings. We have the lowest automobile rates in the South and the eighth-lowest in the country. There's always room for change, and we must consider targeted reforms and targeted modernization. For example, we need to depopulate the reinsurance facility.

You're talking about the involuntary insurance pool for high-risk drivers.

Yes. There are people who perhaps pay more than they should, and there are others who do not pay a rate that is appropriate. Some reforms are necessary, but we must make any changes in a very strategic, incremental way because we don't want to upset the current structure in a way that causes instability.

You agree with the institute in some ways.

I agree that the percentage of drivers in the facility must be reduced. It's now about 25% of insured drivers. I can't tell you what it should be. We need to get more data. I need more input from the industry, the public and our lawmakers.

One of your top priorities will be revamping...