FOR IMMEDIATE RELEASE

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IIPRC NAMES ACTING CHAIR

WASHINGTON, D.C. (Dec. 15, 2014) — The Interstate Insurance Product Regulation Commission (IIPRC) announced today that New Jersey Commissioner of Banking and Insurance Kenneth E. Kobylowski will serve as Acting Chair due to the vacancy created when Chair Joseph G. Murphy stepped down as Massachusetts Insurance Commissioner. The IIPRC plans to hold elections during the next in-person meeting on March 27, 2015. In the interim, New Hampshire Insurance Commissioner and former IIPRC Chair Roger Sevigny has been appointed to serve as Acting Vice Chair until new elections. Virginia Insurance Commissioner Jacqueline K. Cunningham will continue to serve as Treasurer.

“I am pleased to serve as Acting Chair until our next in-person meeting at the Spring National meeting and appreciate Commissioner Sevigny agreeing to serve as Acting Vice Chair on an interim basis. We are confident this transition plan will promote needed continuity between the outgoing officers and new officers until our membership reconvenes in Phoenix this March,” said Kobylowski. “On behalf of myself and Commissioners Sevigny and Cunningham, we look forward to a smooth transition drawing on the collective expertise of our fellow commissioners and their staff to build on another successful year in 2015.”

“I appreciate the past opportunities serving in leadership roles for the IIPRC and look forward to continuing to contribute in this way,” said Sevigny. “Keeping our focus on growing the Compact operations with new resources, new uniform standards and enhanced SERFF features serves the member states and the filing companies.”

“We are moving forward with the plans in place to maintain positive financial and operational growth of the IIPRC,” added Cunningham. “I'm confident the team of member states and IIPRC staff provide excellent continuity so that we can focus on increasing utilization of the IIPRC and addressing barriers to the remaining states joining the Compact.”

About the Commission

Currently, 44 jurisdictions have joined the Interstate Insurance Product Regulation Commission (IIPRC). Compacting members are Alabama, Alaska, Arizona, Arkansas, Colorado, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.

The IIPRC enables state insurance regulators to develop uniform national standards for asset protection insurance products, such as life insurance, annuities, disability income and long-term care insurance. The IIPRC 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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