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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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