The National Association of Insurance Commissioners’ Financial Regulation Standards and Accreditation Committee voted to grant reaccreditation to the insurance regulatory departments in Maryland, Oregon and Washington State during the NAIC 2025 Summer National Meeting in Minneapolis. NAIC accreditation indicates that a state insurance regulator meets financial solvency oversight standards and supports multistate supervision by allowing non-domestic states to rely on the accredited domestic regulator as a baseline for effective financial regulatory oversight. Accredited insurance departments are subject to a comprehensive, independent review at least once every five years, with interim annual reviews. Accreditation is based on a full on-site review by independent consultants assessing financial solvency laws and regulations, financial analysis and examination capabilities, organizational and personnel practices, and oversight of primary licensing, re-domestications and changes of control of domestic insurers; where needed, states may be given key areas for improvement and required to complete interim follow-up work.
National Association Of Insurance Commissioners 2025-08-11
National Association of Insurance Commissioners grants reaccreditation to Maryland, Oregon and Washington state insurance departments
The NAIC's Financial Regulation Standards and Accreditation Committee granted reaccreditation to the insurance regulatory departments in Maryland, Oregon, and Washington State at the 2025 Summer National Meeting. NAIC accreditation confirms a state insurance regulator meets financial solvency oversight standards, facilitating multistate supervision. Accredited departments undergo comprehensive reviews every five years, with interim annual assessments.