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Maine Superintendent To Give Up Post

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Maine Superintendent of Insurance Alessandro Iuppa says he will cut short his term and leave his appointive post Jan. 13, 2007, a few weeks after concluding his presidency with the National Association of Insurance Commissioners.

Iuppa, 53, will step down as the NAIC’s head at the group’s Dec. 12 annual meeting. The new NAIC president will be Alabama Insurance Commissioner Walter Bell.

Iuppa says he is considering his career options and would not rule out taking a post involving the insurance industry.

A former Nevada insurance commissioner, and insurance industry consultant, Iuppa was first appointed to his Maine post by Independent Gov. Angus King in 1998 and reappointed in 2004 by Democratic Gov. John Baldacci.

Iuppa says he is leaving the job with 2.5 years left on his term because, “with a new legislative session coming in, I felt it was appropriate to make the change now and not leave in the middle of a legislative session.” Iuppa says he believes Baldacci will appoint Deputy Superintendent Eric Cioppa to succeed him in an acting capacity.

“After 20 years, including 13 in Maine, in the insurance regulatory community it is time to move on to the next chapter of my career,” Iuppa says.

Robert Hunter, insurance director for the Consumer Federation of America, says he believes that none of the regulators at the NAIC is pro-consumer, but that Iuppa is “better than average.”

“But the whole NAIC has moved in a negative direction out of fear of federal regulation,” Hunter says. “They have given away consumer protections.”

As Maine superintendent, he oversaw the merger that created UnumProvident Corp., Chattanooga, Tenn., and the conversion of Blue Cross and Blue Shield of Maine, South Portland, Maine, to for-profit status.