INDIANAPOLIS, Ind (WEHT)– At the National Association of Insurance Commissioners (NAIC) Summer National Meeting, the Indiana Department of Insurance (IDOI) was awarded accreditation acknowledging the IDOI meets the NAIC’S standards for regulating the solvency of insurance companies licensed in the state.
Accredited insurance departments have a comprehensive, independent review every five years to ensure they meet financial solvency oversight standards, as well as an annual desk audit. The IDOI first received its accreditation in 1994 from the NAIC.
“This honor demonstrates the hard work of our entire IDOI team,” IDOI Commissioner Amy Beard said.
“Our Legal and Financial Services Divisions should be applauded for ensuring these rigorous NAIC accreditation standards have been met. This accreditation furthers the IDOI’s ongoing mission of providing Hoosier consumers with a financially sound insurance market.”Amy Beard, IDOI Commisioner