IIPRC NAMES ACTING CHAIR
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.
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.”
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.”
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.”
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.
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.
more information, visit www.insurancecompact.org.