The organization working to bring more uniformity to insurance licensing by states has named two new board members.
The National Insurance Producer Registry (NIPR) reported that Illinois Insurance Director Michael T. McRaith and Tennessee Insurance Commissioner Julie Mix McPeak have joined the board. McRaith and McPeak represent the National Association of Insurance Commissioners (NAIC) on the NIPR board of directors.
Prior to his appointment as Illinois commissioner, McRaith worked 15 years in private practice as an attorney in Chicago. McRaith represented national and regional financial institutions, including insurers, in finance-related litigation. McRaith currently serves as NAIC secretary-treasurer.
McPeak previously served as counsel to the insurance practice group of law firm Burr & Forman LLP. She also served as the executive director of the Kentucky Office of Insurance, during which time she served on the NIPR Board. McPeak brings to the department more than 12 years of legal and administrative experience in state government.
Last year NIPR implemented 124 new initiatives from original licenses to renewals for resident and non-residents, which included major and limited lines. The organization also expanded products offered to include online resident licensing applications and renewals as well as address change requests. Twelve states were added for resident licensing, and seven states were added for resident licensing renewals, for a total of 34 states and 27 states, respectively, participating.
In addition, NIPR completed the milestone 100 millionth transaction through the Gateway, a communication network that electronically links state insurance departments with the entities they regulate. NIPR expects to complete an industry-leading additional 9.68 million transactions in the coming year.
NIPR is a non-profit affiliate of the NAIC. NIPR developed and implemented the Producer Database and Electronic Appointments/Terminations. NIPR is governed by a board of directors that includes seven members representing the NAIC and six industry members representing a cross-section of the insurance industry.