State Insurance Department Budgets Slip for Fiscal Year 2013: NAIC
June 17, 2012 by Elizabeth Festa
June 7, 2012 •
At a time when there is increased public, Congressional, federal and international attention and involvement in insurance regulation on federal healthcare reform implementation and sweeping financial stability reforms, state insurance department budgets for fiscal year 2013 are expected to fall by 3.2% from 2012 amounts, and to decrease by 2.2% since 2009 aggregate levels.
Fiscal 2013 sees a total of $1.250 billion, down from $1.292 billion in 2012 and $1.279 billion in 2011 in state insurance department budgets overall.
The last time the annual insurance department budget growth rate rose occurred in 2010-2011. Click here to read more…