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FOR IMMEDIATE RELEASE NAIC
RELEASES 2007 ANNUAL REPORT 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.
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 at www.naic.org/press_home.htm.
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©2008 National Association of Insurance Commissioners. All rights reserved. | ||
