The NAIC Financial Regulation Standards and Accreditation (F) Committee voted to accredit the departments of Arizona, California and Florida. Accredited insurance departments undergo comprehensive, independent review every five years to ensure they meet financial solvency oversight standards.
The NAIC accreditation program establishes and maintains sound solvency regulation standards. It provides for the effective regulation of multi-state insurance companies with emphasis on each state's:
• Financial solvency laws and regulations;
• Financial analysis and examination capabilities;
• Organizational and personnel practices; and
• Insurer organizational review, licensing and change of control of domestic insurers
The Arizona Department of Insurance team and Director Keith Schraad.
The California Department of Insurance team and Commissioner Ricardo Lara.
The Florida Office of Insurance Regulation team and Commissioner David Altmaier.