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NAIC Releases 2019 Insurance Department Resources Report — Volume Two

Contains Key Statistics on Premiums by State, by Line of Business and Budget Information

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WASHINGTON (Dec. 17, 2020) —The National Association of Insurance Commissioners (NAIC) today released the second volume of the 33rd edition of the Insurance Department Resources Report (IDRR)

The report is designed to help state insurance departments assess their resources in comparison to other states. The first volume was published on Oct. 6 and 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.  

An overview of the findings in Volume Two includes:  

  •         California, New York, Texas, Florida and Pennsylvania accounted for 40.9% of all insurance premiums in the United States.  
  •         Total premiums collected increased by 5.7 percent. 

The IDRR is a helpful reference for state legislators, federal regulators and other public policymakers. The report details how state insurance departments manage available resources to effectively regulate a complex and competitive industry. 

 

 

About the NAIC

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. For more information, visit www.naic.org.

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