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COMPACT COMMISSION SELECTS EXECUTIVE DIRECTOR
Frances Arricale Chosen to Head Commission at Inaugural Annual Meeting

LANSDOWNE, Va. (Nov. 15, 2006) - The Interstate Insurance Product Regulation Commission (Commission) has selected Frances "Fran" Arricale as its first Executive Director. Members of the Commission announced their decision today during the Commission’s inaugural annual meeting at the Lansdowne Resort in Lansdowne, Va.

In her role as Executive Director, Arricale will be responsible for the daily management of the Commission, including the development and implementation of necessary policies, procedures, processes and control measures, as well as providing reports to the Commission’s Management Committee. In addition to working with the representatives from each member state, she also will coordinate the affairs of the Commission, as well as its legislative, industry and consumer advisory committees.

"After an extensive and focused search, we have selected a strong candidate with the experience and leadership qualities necessary to step into the role of managing and accomplishing the start-up activities of this organization," said NAIC President and Maine Insurance Superintendent Alessandro Iuppa, who also chairs the Commission’s Interim Executive Director Hiring Committee. "Ms. Arricale has a solid understanding of the state-based system of insurance regulation, especially in the area of life insurance, and brings with her impressive management, marketing and legal credentials."

Arricale joins the Commission after having served as Associate Deputy Commissioner and General Counsel for the New York City Commission to the United Nations, Consular Corps and Protocol in the Office of the Mayor. In this capacity, she worked on behalf of the city as liaison to the United Nations, foreign government officials and diplomatic representatives.

Prior to this position, Arricale was a Corporate Vice President in the Government Affairs Office of New York Life Insurance Company. During her time based in New York City and Washington, D.C., she managed a portfolio of domestic and international insurance regulatory matters, as well as global financial services and trade issues. Arricale also has served as a regulatory program officer for the U.S. Department of Education.

Arricale is an attorney licensed in New York, California and Washington, D.C. She is a graduate of Fordham University and Brooklyn Law School. Additionally, Arricale completed certificate study in Legislative Affairs at the Government Affairs Institute of Georgetown University, legal study in European Community Law on fellowship in Brussels, Belgium, and legal study in Public International Law at the Hague Academy of International Law in the Netherlands. She is a member of the American Bar Association, as well as several local bar associations.

For more information on the Commission, visit www.insurancecompact.org.


About the Commission
Currently, 28 members have joined the Interstate Insurance Product Regulation Commission. The compacting members are Alaska, Colorado, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Nebraska, New Hampshire, North Carolina, Ohio, Oklahoma, Pennsylvania, Puerto Rico, Rhode Island, Texas, Utah, Vermont, Virginia, Washington, West Virginia and Wyoming.

The Commission enables state regulators to develop uniform national standards for asset protection insurance products, such as life insurance, annuities, disability income and long-term care insurance. The Commission establishes a central filing point for these insurance products, enhancing the speed and efficiency of regulatory decisions and allowing companies to compete more effectively in the modern financial marketplace while continuing to provide protection for consumers.

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© 2006 Interstate Insurance Product Regulation Commission. All rights reserved.