People: Lindberg Whistleblower Obusek to Retire After 30 Years With NCDOI

The North Carolina regulator who raised the first red flags about now-imprisoned insurance executive Greg Lindberg’s business practices has decided to retire after 30 years with the state Department of Insurance.

Jackie Obusek, who has been chief deputy insurance commissioner since 2022, will step down Oct. 1.

“I am grateful for the dedication Jackie has given the department for 30 years,” Commissioner Mike Causey said in a statement. “Jackie’s depth of financial experience and leadership will be missed.”

Obusek joined the department in 1996 as a financial examiner before moving into regulatory leadership roles, the DOI said. She was named senior deputy commissioner in 2017, overseeing several divisions, including financial analysis and licensing, financial examination, receiverships and liquidations and actuarial services. She also provided leadership for the state’s captive insurance program.

In 2023, the National Association of Insurance Commissioners presented her with the Robert Dineen award, a top honor that recognizes outstanding service and contributions to state insurance regulation.

Obusek, who also is a certified public accountant, may be best remembered for her role in bringing down Lindberg, who this year was sentenced to 12 years in prison for siphoning $12 million from his Carolina-based life insurance companies.

In 2015, Obusek raised concerns about Lindberg’s business practices, noting that Lindberg’s insurance companies had made an inordinate amount of investments in his affiliated companies. Lindberg, objecting to Obusek’s plan to limit the amount that the insurance firms could invest in his other enterprises, attempted to bribe Causey with heavy campaign contributions in exchange for more relaxed regulations.

Causey had worn a microphone during those meetings, and Lindberg was later convicted twice of attempted bribery.

“From my first day as a financial examiner to my final days as chief deputy commissioner, my 30-year career at the North Carolina Department of Insurance has been focused on consumer protection,” Obusek said in a statement. “I want to thank the very dedicated professional North Carolina Department of Insurance team for their support. I also sincerely appreciate Commissioner Mike Causey for his leadership and for the opportunity to serve as his chief deputy.”