The National Association of Insurance Commissioners (“NAIC”) has released the second volume of the 29th 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 regulate the industry.
The first volume, published in June, 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 the second volume includes:
- California reported the largest 2015 premium, which is $124.4 billion greater than the second-largest 2015 premium (New York).
- Total premium collected increased by 8.0 percent.
Learn more: www.naic.org.
Steven A. Meyerowitz
Steven A. Meyerowitz, a Harvard Law School graduate, is the founder and president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. He may be contacted at [email protected].