Regulators Release Annual Report

The National Association of Insurance Commissioners (NAIC) released its 2006 Annual Report, “Mapping Milestones,” a comprehensive summary of the NAIC’s progress during the past year.

“As we celebrated the NAIC’s 135th Anniversary in 2006, it is only fitting for our Annual Report to feature the many milestones we reached as an Association, not only in the past year, but in the more than 100 years before that,” said Catherine J. Weatherford, NAIC Executive Vice President and CEO. “The NAIC’s continuous work to improve and modernize the state-based regulation of insurance is evident within the pages of this report, which provides our Members and interested parties with a thorough road map of the positive direction in which we are heading.”

The 2006 Annual Report includes a summary of financial solvency, market regulation, modernization and technology, government affairs, and consumer outreach and education efforts. The NAIC’s audited financial statements also are a prominent segment of the report.

“The audit report for 2006 was a success,” said Jeff Johnston, NAIC Chief Financial Officer. “We are focused on providing the Membership with a high degree of confidence in the NAIC’s financial operations, and the audit validates our efforts.”

For an electronic version of the NAIC 2006 Annual Report, visit: http://www.naic.org/documents/about_2006_annual_report.pdf.

Source: NAIC