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NAII & NAMIC Protest '04 NAIC Budget

Friday, October 24, 2003 | 0

Two major property/casualty insurance trade associations have expressed serious concerns about a large surplus in the National Association of Insurance Commissioners' (NAIC) proposed 2004 budget. For the three-year period ending in December, 2004, the NAIC proposes to collect $10 million in excess of its expenses. Although a significant part of that surplus will be allocated to ongoing projects, the trade associations say the excess is representative of the NAIC seeking more revenue than it needs from insurers and others. The National Association of Independent Insurers (NAII) and the Nationa...

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