Maine Governor John E. Baldacci has reappointed Alessandro A. Iuppa as superintendent of the Maine Bureau of Insurance. The bureau is responsible for overseeing the 950 insurance companies and 35,000 agents licensed in Maine.
“I am pleased to renominate Al Iuppa as Maine’s insurance superintendent. Al brings experience, commitment and balanced judgment to the role of superintendent. Under his leadership, the bureau of Insurance has played a crucial role in monitoring the financial soundness of the insurance industry and enforcing consumer protections,” said Gov. Baldacci.
The appointment is for a five-year term and subject to legislative confirmation.
Iuppa was initially appointed superintendent in 1998. During his tenure, the bureau in the past year launched an examination of all domestic health maintenance organizations to determine if claims are being paid promptly. The exams resulted in record fines levied against two of the state’s leading health totaling more than $2 million.
In recent months Iuppa has focused on property and casualty insurance problems facing Maine homeowners and small businesses. Working with lawmakers, the bureau held a series of public forums around the state that led the Baldacci Administration to propose legislation to protect homeowners from unfair policy cancellations and nonrenewals. A public hearing on the homeowners’ insurance protection legislation was held last week.
Iuppa also recently led the bureau through the successful reaccredidation process by the National Association of Insurance Commissioners (NAIC).
Iuppa is an active participant in the NAIC, where he serves on the executive committee and is vice chair of the Reinsurance Task Force. He has also been designated by the NAIC to represent the U.S. at the International Association of Insurance Supervisors (IAIS) and is frequently called upon to provide technical assistance to the U.S. Trade Representative’s Office on trade matters involving insurance regulation.
Iuppa came to Maine in 1994 to assume the position of deputy superintendent of insurance. He previously held the positions of deputy commissioner and commissioner of insurance in the Nevada Division of Insurance from 1986 to 1991. From 1991 to 1994 he ran a consulting firm in Marblehead, Massachusetts, which provided insurance company rehabilitation services to state insurance departments.
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