NAIC Releases 2007 Annual Report

The National Association of Insurance Commissioners (“NAIC”) released its 2007 Annual Report, “State Regulation: Built to Last” on Sunday, March 30, 2008. To view a copy of the report, click here.

The report provides a comprehensive summary of the NAIC’s progress during the past year, summarizing how state insurance regulators have strengthened the foundation for the organization’s future.

 

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NAIC Releases 2007 Annual Report

State-Based Insurance Regulation: Built to Last

ORLANDO, Fla. (March 30, 2008) — The National Association of Insurance Commissioners (NAIC) today released its 2007 Annual Report, “State Regulation: Built to Last.” The report provides a comprehensive summary of the NAIC’s progress during the past year, summarizing how state insurance regulators have strengthened the foundation for the organization’s future.

“As reflected in the report, last year was full of accomplishments that supported and sustained the state-based system of insurance regulation,” said NAIC Executive Vice President and CEO Catherine J. Weatherford. “The report also outlines the many useful and usable tools the NAIC provides that support this regulatory framework that has stood the test of time — demonstrating the value the NAIC brings to state insurance regulators and the consumers we serve.”

To better illustrate, the annual report includes “blueprints” that outline the estimated costs a state would incur to build or procure the following types of NAIC services: accreditation program; communications and consumer outreach; education and training; financial and regulatory databases; government relations; legal counsel; market and financial analysis; research, statistics and regulatory publications; and securities valuation.

The report also includes a copy of the NAIC’s audited financial statements, a complete membership list, an organizational chart and a list of accreditations and special awards given during 2007.

Click HERE to download the complete 2007 Annual Report.

 

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