Interstate Insurance Product Regulation Commission Names Director

The Minneapolis-based Interstate Insurance Product Regulation Commission (IIPRC) has named Karen Schutter as the new executive director.

Schutter has served as the interim executive director since December 2008. She will oversee the day-to-day management of the IIPRC and its product filing operations including providing support to the members of the Commission and its committees to fulfill their respective missions; outreaching to non-compacting states, industry and consumers on the benefits of the Compact and ensuring a high-quality product review process for compacting states and filers.

The Commission oversees the Interstate Insurance Product Regulation Compact, which provides states with the ability to collectively use their expertise to develop uniform national standards for life insurance, annuities, disability income and long-term care insurance products. This central point of filing enhances the speed and efficiency of regulatory decisions based on strong product standards and allows companies to compete more effectively in the modern financial marketplace.

Schutter has been with the National Association of Insurance Commissioners since 1998, serving in various legal and management capacities including senior strategic and business initiatives counsel and corporate counsel.