FOR IMMEDIATE RELEASE
NAIC RELEASES 2011 INSURANCE DEPARTMENT RESOURCES
REPORT - VOLUME TWO
Contains Key Statistics on Premiums By State, By Line of Business
and Budget Information
WASHINGTON, D.C. (Aug. 8, 2012) — The National
Association of Insurance Commissioners (NAIC) today released the second
volume of the 25th edition of the Insurance Department Resources Report
(IDRR) to help state insurance departments assess their resources in
comparison to other states. The report details how state insurance
departments manage available resources to effectively regulate an
increasingly complex and competitive industry.
The first volume, published in May, included data on staffing, budgeting
and examination information. The second volume includes admitted premium by
state, by line of business; excess and surplus lines premium; and
statistics including budget as a percent of revenues.
Developed primarily through an extensive survey of the NAIC member states,
the second volume of the IDRR is organized into two sections: Budget and
Funding; and Examination and Oversight.
An overview of the findings in Volume Two includes:
- California reported
the largest 2011 premium, which is $91.4 billion greater than the
second-largest 2011 premium (New York).
- Total premium
collected increased by 5.4 percent.
As well as being a key assessment tool for state insurance departments,
the IDRR is a helpful reference for state legislators, federal regulators
and other public policymakers.
A hard copy of the 2011 Insurance Department Resources Report – Volume
Two can be ordered from the NAIC Store.
About the NAIC
The National Association of Insurance Commissioners (NAIC) is the U.S.
standard-setting and regulatory support organization created and governed
by the chief insurance regulators from the 50 states, the District of
Columbia and five U.S. territories. Through the NAIC, state insurance
regulators establish standards and best practices, conduct peer review, and
coordinate their regulatory oversight. NAIC staff supports these efforts
and represents the collective views of state regulators domestically and
internationally. NAIC members, together with the central resources of the
NAIC, form the national system of state-based insurance regulation in the
U.S. For more information, visit www.naic.org.