NAIC Calls For Hikes
In 2006 Operating Budget
The National Association of Insurance Commissioners released a proposed 2006 budget that calls for a nearly 4 percent increase in spending over the current plan.
The consolidated budget calls for projected revenue of $59.3 million (up less than 1 percent over this year) and spending of $58.3 million (up 3.63 percent).
NAIC President Diane Koken, who also serves as Pennsylvania's insurance commissioner, said the spending plan supports regulatory modernization efforts.
Robert Zeman, senior vice president for the Property Casualty Insurers Association of America, said that on the positive side, the proposed spending increase was modest, although he cited his members' "lingering concerns about the overall size of the NAIC budget and its surplus."
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