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News Release

Phoenix, Ariz. (March 16, 2024)

Arizona and California Earn NAIC Accreditation

The NAIC Financial Regulation Standards and Accreditation (F) Committee voted to accredit the insurance departments in Arizona and California at the NAIC’s 2024 Spring National Meeting. 

The NAIC Accreditation Program demonstrates that state departments of insurance (DOI) meet standards of solvency regulation and provide effective regulation of multi-state insurers. NAIC accreditation allows non-domestic states to rely on the accredited domestic regulator to fulfill a baseline level of effective financial regulatory oversight. 

To become accredited, the state DOI must submit to a full on-site accreditation review by a team of independent consultants, who evaluate the department’s capabilities in the following areas: 

  • Financial solvency laws and regulations 
  • Financial analysis and examination capabilities 
  • Organizational and personnel practices 
  • Primary licensing, redomestications, and change of control of domestic insurers 

For a state DOI to remain accredited, an accreditation review must be performed at least once every five years, with interim annual reviews. If necessary, key areas for improvement may be provided to the state, and interim follow-up may be required on those areas. 

Learn more about the NAIC’s Financial Regulation Standards and Accreditation program.