FOR IMMEDIATE RELEASE

HOUSTON (Dec. 2, 2007) — Four state insurance departments received Accreditation Awards today as part of the National Association of Insurance Commissioners' (NAIC) Financial Regulation Standards and Accreditation Program.

During the Opening Session of its 2007 Winter National Meeting, NAIC President and Alabama Insurance Commissioner Walter Bell bestowed the honor on:

• Missouri Department of Insurance, Financial Institutions
  and Professional Registration;
• Nebraska Department of Insurance;
• Texas Department of Insurance; and
• West Virginia Office of the Insurance Commissioner.

“We continue to enjoy great success with this program.” Bell said. “The NAIC Financial Regulation and Accreditation Standards program is a testament of our success as state regulators to hold companies accountable to policyholders through strict solvency standards and effective implementation of those standards.”

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.

Forty-nine states and the District of Columbia continue to be 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 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 www.naic.org/press_home.htm.

You are currently subscribed to the “NAIC News Release” electronic service.
For information regarding this service, please contact the NAIC Communications Department, 2301 McGee Street, Kansas City, MO 64108, 816.783.8003.

To unsubscribe from NAIC Electronic Services, send a blank e-mail to NAIC Opt Out services.

[ NAIC Web Site | Search NAIC and State Insurance Department Sites  ]
[ Copyright & Reprint Info | Privacy Statement]

©2007 National Association of Insurance Commissioners. All rights reserved.