FOR IMMEDIATE RELEASE
NEW YORK REGULATOR EARNS NAIC'S HIGHEST INDIVIDUAL
NATIONAL HARBOR, Md. (Nov. 29, 2012) — The National
Association of Insurance Commissioners (NAIC) today presented Joseph
Fritsch of the New York State Department of Financial Services with the
organization's most prestigious individual honor. Fritsch received the
Robert Dineen Award during the Opening Session of the NAIC Fall National
"Joe's dedication to insurance regulation and his exemplary record
of service has been displayed on numerous fronts throughout his nearly
35-year career," said Kevin M. McCarty, NAIC President and Florida
Insurance Commissioner. "His expertise in statutory accounting and
solvency issues was critically important during some of the most
challenging economic times. Also notable was Joe's early understanding of
the global insurance marketplace and the importance of identifying the
regulatory challenges of cross-border insurance business."
Fritsch serves as Chair of the NAIC Statutory Accounting Principles
Working Group and Vice Chair of the Emerging Accounting Issues Working
Group. He worked closely with regulators and NAIC staff regarding AIG and
securities lending programs at the height of the financial crisis, and
played a key role in the NAIC's reinsurance modernization proposal.
Established in 1989 and named in honor of the founder of the NAIC's
Support and Services Office - now its Central Office - the Robert Dineen
Award is presented to an individual in recognition of his or her
outstanding achievement as a career regulator.