NAIC Releases 2018 Insurance Department Resources Report — Volume Two
Contains Key Statistics on Premiums By State, By Line of Business and Budget Information
WASHINGTON (Sept. 19, 2019) — The National Association of Insurance Commissioners (NAIC) today released the second volume of the 32nd edition of the Insurance Department Resources Report (IDRR). The report is intended to help state insurance departments assess their resources in comparison to other states. It details how state insurance departments manage available resources to effectively regulate a complex and competitive industry.
The first volume, published in August, 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 relational statistics including budget as a percent of revenues, budget as a percentage of premiums and revenues as a percentage of premiums.
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.
About the National Association of Insurance Commissioners
As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.