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January 26, 2007 at 12:28 PM
Julie McPeak will be 2007 chair of the Life and Annuities Committee at the National Association of Insurance Commissioners.
McPeak, executive director of the Kentucky Office of Insurance, will succeed North Dakota Insurance Commissioner Jim Poolman, according to officials at the NAIC, Kansas City, Mo.
McPeak was vice chair of the NAIC’s Life and Annuities Committee in 2006.
L. Tim Wagner, director of the Nebraska Department of Insurance, will be the vice chair this year, officials say.
Poolman will continue to serve on the Life and Annuities Committee this year, officials say.
McPeak was not immediately available for an interview at press time.
Wagner, like Poolman, has been a strong advocate of shifting to a flexible, “principles based” reserving system.
Work on a principles-based approach will be a “paramount activity” this year, Wagner says.
About another hot topic, the resale market for in-force life insurance policies, Wagner says he believes there is a “fundamental property right” associated with a life insurance contract.
