The Florida Office of Insurance Regulation has been recognized at the National Association of Insurance Commissioners (NAIC) Winter National Meeting for renewal of its Financial Regulation Standards accreditation.
The accreditation acknowledges the OIR for meeting the NAIC’s standards for regulating the solvency of insurance companies licensed in the state.
To earn the accreditation, the OIR had to demonstrate that Florida had adequate solvency laws and regulations to protect consumers; it used an effective and efficient financial analysis and examination process; and that it maintained appropriate organizational and personnel practices to effectively carry out its solvency regulation duties.
Insurance Commissioner Kevin McCarty said this is the third accreditation renewal the office has received. It first received NAIC accreditation in December 1990 followed by re-accreditations in 1998 and 2003.
Source: Florida Office of Insurance Regulation
www.floir.com
Topics Legislation Florida
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