FOR IMMEDIATE RELEASE

ALASKA RECEIVES NAIC ACCREDITATION

WASHINGTON, D.C. (Sept. 29, 2007) — Following a strict review process, the Alaska Division of Insurance today received an Accreditation Award from the National Association of Insurance Commissioners’ (NAIC) Financial Regulation Standards and Accreditation Program.

NAIC President and Alabama Insurance Commissioner Walter Bell presented the honor to Alaska Insurance Director Linda Hall during the Opening Session of the NAIC’s 2007 Fall National Meeting here.

“This award is a tribute to the hard-working individuals who do their best to regulate insurance and protect the consumers in our state,” Hall said. “It shows we are dedicated to providing quality service, while working to eliminate insolvency and fraud.”

Accredited insurance departments are required to undergo a comprehensive review by an independent review team every five years to ensure the departments continue to meet baseline financial solvency oversight standards. The accreditation standards require state insurance departments to have adequate statutory and administrative authority to regulate an insurer’s corporate and financial affairs, as well as the necessary resources to carry out that authority.

With today’s presentation, 49 states and the District of Columbia are accredited by the NAIC.

About the NAIC

Headquartered in Kansas City, Missouri, the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and the five U.S. territories. The NAIC’s overriding objective is to assist state insurance regulators in protecting consumers and helping maintain the financial stability of the insurance industry by offering financial, actuarial, legal, computer, research, market conduct and economic expertise. Formed in 1871, the NAIC is the oldest association of state officials. For more than 135 years, state-based insurance supervision has served the needs of consumers, industry and the business of insurance at-large by ensuring hands-on, frontline protection for consumers, while providing insurers the uniform platforms and coordinated systems they need to compete effectively in an ever-changing marketplace. For more information, visit NAIC on the Web at: http://www.naic.org/press_home.htm.

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