CHANGING OF THE GUARD
The surprise announcement of Al Iuppa’s resignation as Superintendent
of Insurance brings to a close another chapter in the Maine insurance regulatory
history.
Looking back over the list of prior superintendents during my time in
the business, Frank Hogerty, Ted Briggs, Joe Edwards, Brian Atchinson,
and now Al, it is interesting to reflect on the different style and personality
of each regulator, as well as the priorities and focus each brought to
the regulatory process.
Different challenges and issues faced each one, and each left an imprint
on the regulatory process as we know it today.
Like a lot of other aspects of business life today, the regulation of
our activity has become more structured and formal. In many ways, probably
for the better, and certainly necessary in an era when every move is
scrutinized and dissected by one special interest group or another.
During Al’s tenure, we’ve seen streamlining of processes,
an “even hand” approach, and generally, a stable climate.
We haven’t always agreed on the best course of action, but have
always enjoyed an open dialogue.
Hopefully, the next superintendent will likewise bring a balanced approach
to the needs of the consumer as well as to the importance of an open
and competitive marketplace. At this sensitive time, particularly with
the health insurance crisis facing the state, a politically expedient
appointment would not bode well for the long term interests of all Maine
citizens.
Walter C. Smythe, CPCU, AAI, CIC
psmythe@patrons.com
President
