FOR IMMEDIATE RELEASE
NAIC RELEASES 2012 INSURANCE DEPARTMENT RESOURCES
REPORT - VOLUME TWO
Contains Key Statistics on Premiums By State,
By Line of Business
and Budget Information
WASHINGTON, D.C. (August 13, 2013) — The National Association of Insurance
Commissioners (NAIC) released the second volume of the 26th 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 June, 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 and territories, 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 2012 premium, which is $80.6 billion greater than the
second-largest 2012 premium (New York).
- Total premium
collected increased by 5.7 percent.
As well as being an important 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 2012 Insurance Department Resources Report –
Volume Two can be ordered from the NAIC Store.