In elections held at their fall meeting here, state regulators elected Pennsylvania Insurance Commissioner Diane Koken as the new president of the National Association of Insurance Commissioners.
Joel Ario, Oregon administrator and current NAIC secretary-treasurer, will become vice president, while Alessandro Iuppa, Maine Superintendent, will be secretary-treasurer, according to Roger Hoadley, NAIC spokesman. Elections must be held again in December, the normal annual cycle for the change in leadership for the organization of state regulators, he added.
Koken says she is ready to commit for a 15-month period because she believes that level of continuity is needed to advance ongoing NAIC efforts to streamline and preserve state insurance regulation.
In the coming year, she explains, those efforts will include working with Congress on the SMART Act, getting the new Market Conduct Surveillance Model Act adopted in the states, and continuing to work with the International Association of Insurance Supervisors on accounting standards.