At its Annual Meeting on December 14, 2013, the Interstate Insurance Product Regulation Commission re-elected Commissioner of Insurance Joseph Murphy to the post of Treasurer. Murphy was first elected Treasurer in 2012 to serve during the 2013 calendar year. He will now serve in that post throughout 2014.
“I am honored to serve as Treasurer during this time of positive financial and operational growth of this organization,” said Murphy. “I look forward to working with my fellow officers and member states to educate companies on the benefits of using the IIPRC filing process and to gather feedback for continuous improvements in our processes and operations.”
The IIPRC is comprised of 43 states and territories and enables state insurance regulators to develop uniform national standards for asset protection insurance products, such as life insurance, annuities, disability insurance 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.
At the same meeting, New Hampshire Insurance Commissioner Roger A. Sevigny was elected as Chair with Pennsylvania Insurance Commissioner Michael F. Consedine to serve as Vice Chair.