State insurance departments are gaining a higher profile as natural catastrophes, cybersecurity breaches and other major losses grow in frequency and severity. An evolving regulatory environmental is also increasing interest in the work and resources of state-level insurance regulators, according to the National Association of Insurance Commissioners (NAIC), which recently released its 35^th annual State Insurance Department Resources Report. "The report helps state insurance departments assess their resources in comparison to other states," the NAIC says. "It details how state insurance departments manage available resources to effectively regulate an increasingly complex and competitive industry." The slideshow above, illustrated with state flag images from Wikipedia Commons, highlights the 10 U.S. state insurance departments with the largest budgets in 2023, according to the NAIC. The report indicated that while state insurance department staffing was relatively unchanged between 2021 and 2022, budget levels are expected to increase in 2023 by 9.1% with 37 states reporting an increase in their available cash. Here are some of the report's other key findings: |

• There were 5,978 domestic U.S. insurers in 2021.
• Revenues collected increased 2.7% to $29.8 billion in 2021.
• State insurance departments received over 259,345 official complaints and 1.5 million inquiries.

This report as well as additional insurance-specific resources are available from the NAIC's website. See also: |

• NAIC: Top 25 P&C insurance companies of 2021
• Model pet insurance act passed by NAIC
• Why You Need To Understand More About Insurance