For Immediate Release
AUGUSTA -- State Rep. John Picchiotti has been appointed to the Legislature's high profile Joint Standing Committee on Insurance and Financial Services, putting him in position to shape policy in a number of critical areas, including banking, health care reform and mortgage foreclosure prevention.
"I'm very pleased to be assigned to this committee," said Rep. Picchiotti (R-Fairfield), a first-term legislator. "After spending 25 years in the insurance industry, in all phases of the business, I understand the issues and hopefully can bring to bear the perspective of someone who has owned an insurance agency."
Rep. Picchiotti has experience on the financial services side of the committee's jurisdictional domain, as well. He is currently chairman of KSW Federal Credit Union of Waterville. He also chaired the Fairfield Economic Development Committee.
The Maine Legislature has 16 joint standing committees, each composed of 13 members - three senators and 10 members of the House. Every committee oversees clearly defined parts of state government.
The Insurance and Financial Services Committee has an extensive range of oversight responsibility, starting with the state's Bureau of Insurance. It deals with banking; financial institutions; credit unions; consumer credit; stocks, mutual funds, bonds and other securities; and financial services.
It also oversees mortgage lending; foreclosure prevention; automobile, life, property and casualty insurance; health insurance; and health care reform. Moreover, it handles Maine Employers Mutual Insurance Company; workers' compensation insurance; real estate practices; insurance rating, regulation and practices; and licensing.
Rep. Picchiotti is a veteran of the U.S. Navy, serving as an electronics specialist during the Vietnam War era. Besides working in the insurance field, he has been sales manager of a high speed Internet company and owner and CEO of clothing stores. In addition, he has held positions in media consulting and human resources. An active member of his community, Rep. Picchiotti has served on the board of the Chamber of Commerce for Mid Maine and on the Waterville Merchants Association.
Rep. Picchiotti represents House District 84, which includes Rome, Fairfield and Smithfield. ###
Maine House Republicans
Tel: (207) 287-1445