Report Shows Where Insurance Departments’ Money Goes…
August 14, 2019 by Allison Bell
The National Association of Insurance Commissioners has published the new edition of a kind of almanac aimed at people who want to know exactly how insurance regulation really works: the first volume of the NAIC’s Insurance Department Resources Report.
The first volume covers topics such as how many insurers the United States has, how many people work for state insurance departments, and various types of employees in state insurance departments earn.
The NAIC is a group for insurance regulators in U.S. states and territories.
One reason the NAIC publishes the resources report is to help states see if they’re spending too much on some regulatory functions. Another reason is to help states see if they’re spending too little to protect policyholders’ interests and provide efficient service to insurers, agents and other insurance industry players.
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