D.C. Gets New Insurance, Securities & Banking Director

NU Online News Service, Aug. 31, 2:30 p.m. EDT

Gennet Purcell has been appointed commissioner of the Department of Insurance, Securities and Banking for Washington, D.C., Mayor Adrian M. Fenty announced today.

Ms. Purcell, who had been serving as the department's deputy commissioner since December 2008, is an attorney and member of both the State of Maryland Bar and the Commonwealth of Virginia Bar, the department said.

Arthur D. Perschetz, board member of the Captive Insurance Council of the District of Columbia and counsel with Kilpatrick Stockton LLP in D.C.--representing a significant number of captive insurers and risk retention groups--told National Underwriter that D.C.'s former director, Thomas Hampton, "will be missed, as captives grew significantly under his watch and he was a staunch defender of individual domicile control of risk retention groups at the [National Association of Insurance Commissioners]."

However, Mr. Perschetz continued, "we look forward to working with Acting Commissioner Purcell, who in a brief conversation indicated her support of the D.C. captive initiative and wanting to learn more."

Before joining the District government, Ms. Purcell was a partner in a private law firm, where her areas of practice included estate planning, insurance claims law, surety bond financing and small-business planning, according to a statement. She also has worked as an associate at ShawPittman.

She currently serves as a member on the North American Securities Administrators Association's Investor Education Section Committee and is a pending nominee to serve on the District of Columbia Financial Literacy Council.

Ms. Purcell holds a political science degree from York University and a degree from Howard University School of Law, the mayor's office said.

"The number-one thing you have to do in running an efficient and effective government is hire good people," Mayor Fenty said. "And we've done just that..."

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