IIPRC NAMES NEW EXECUTIVE
DIRECTOR
WASHINGTON, D.C. (JUNE 12,
2009) - The Interstate Insurance Product
Regulation Commission (IIPRC) has named Karen Schutter as the new
Executive Director.
Schutter has served as the Interim
Executive Director of the IIPRC since December 2008. As Executive
Director, Schutter will oversee the day-to-day management of the
IIPRC and its product filing operations including providing support
to the members of the Commission and its committees to fulfill their
respective missions; outreaching to non-compacting states, industry
and consumers on the benefits of the Compact and ensuring a
high-quality product review process for compacting states and
filers.
"Karen has been an incredibly valuable
part of the Compact since its inception in 2006," said Jane Cline,
West Virginia Insurance Commissioner and Chair of the IIPRC. "As
interim director, Karen has demonstrated remarkable leadership in
coordinating the legal and operational implementation of the
Compact. Her guidance and expertise will be essential as we continue
to build on this important modernization initiative."
The Commission oversees the Interstate
Insurance Product Regulation Compact, which provides states with the
ability to collectively use their expertise to develop uniform
national standards for life insurance, annuities, disability income
and long-term care insurance products. This central point of filing
enhances the speed and efficiency of regulatory decisions based on
strong product standards and allows companies to compete more
effectively in the modern financial marketplace.
Schutter has been with the National
Association of Insurance Commissioners since 1998, serving in
various legal and management capacities including Senior Strategic
and Business Initiatives Counsel and Corporate Counsel. She received
her J.D. from the University of Kansas and a Bachelor of Science
from Creighton University.

About the Commission
Currently, 35 jurisdictions have joined the Interstate
Insurance Product Regulation Commission (IIPRC). Compacting members
are Alaska, Colorado, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas,
Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan,
Minnesota, Mississippi, Nebraska, New Hampshire, New Mexico, North
Carolina, Ohio, Oklahoma, 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.
For more information, visit www.insurancecompact.org.