Maine Insurance Superintendent Eric Cioppa to Retire April 1, Capping Decades of State and National Service

After 33 years at the Maine Bureau of Insurance, including 10 as Superintendent and 13 as Deputy Superintendent, Eric Cioppa will retire on April 1, 2022. Cioppa joined the Bureau in 1988 as a Statistician then served as Supervisor of the Workers’ Compensation Section, prior to becoming Deputy Superintendent in 1998 and then Superintendent in 2011. Cioppa’s appointment to serve as Superintendent was reconfirmed by the Legislature in 2017.

“Superintendent Cioppa has accomplished so much for Maine people during his tenure at the Bureau,” stated Governor Mills. “From his work to overhaul the Workers’ Compensation system in the State in the early ’90s, to overseeing the implementation of the Affordable Care Act in Maine since 2010, to working with my Administration on health insurance and consumer financial protections during the pandemic — and all the legislative, regulatory and enforcement work in between — Superintendent Cioppa’s contributions to the health and welfare of Mainers have been invaluable. I will deeply miss him. On behalf of the people of Maine, Eric, I thank you.”

Department of Professional and Financial Services Commissioner Anne Head said that Cioppa “has been an incredible asset to the State and its people; he’s been tireless in his work to protect the rights of Mainers and to support business innovation and competition in Maines insurance industry.”

Throughout his tenure at the Bureau, and especially in recent years, Cioppa has also been heavily involved with helping to set national priorities, develop model laws and regulation, and act as a spokesperson for the National Association of Insurance Commissioners (NAIC), of which the chief insurance regulators of all 50 states, the District of Colombia and five U.S. territories are members. He served as President of the NAIC in 2019, President Elect in 2018, Vice President in 2017 and Secretary in 2016 in addition to chairing and serving on numerous committees.

His regulatory colleagues at the NAIC also appointed him to serve a two-year term as their non-voting member representative on the U.S. Financial Stability Oversight Council in 2018, and appointed him for a second two-year term in 2020.

Cioppa has been known and praised for his thoughtful approach to complex issues and for his respectful work relationships with regulatory colleagues, industry members and staff. In his notice to staff regarding his decision to retire he referenced his desire to spend more time with family, including his wife Kathy, and their grandchildren.

The Superintendent of Insurance is appointed by the Governor and is subject to review by the joint standing committee of the Maine Legislature having jurisdiction over banking and insurance matters and to confirmation by the Legislature. Once appointed, the Superintendent serves a five-year term. The administration is undertaking a national search to identify candidates for the Superintendent of Insurance position.

Print Friendly, PDF & Email

Source link