KY. OFFICE OF INSURANCE RECEIVES ACCREDITATION AWARDS:

The Kentucky Office of Insurance was one of four state insurance departments to receive accreditation awards in the National Association of Insurance Commissioners’ Financial Regula-tion Standards and Accreditation Program. Honors also were presented to Idaho, Oklahoma and Washington regulators during the Dec. 4-7, 2004 NAIC winter meeting in New Orleans. “We are extremely pleased to have achieved this goal,” Martin Koetters, KOI executive director said. Accredited insurance departments undergo a comprehensive examination every five years by an independent review team. According to Marilyn Duke, director of financial standards and examination at KOI, accreditation is particularly important for domestic insurers, allowing them to be recognized by other states as having met specific financial standards, which streamlines the regulatory process. KOI is an agency of the Environ-mental and Public Protection Cabinet.

Topics Kentucky