INDIANAPOLIS, Ind. (March 25, 2025)
Three Departments of Insurance Reaccredited During º£½ÇÂÛ̳ 2025 Spring National MeetingÂ
The º£½ÇÂÛ̳ Financial Regulation Standards and Accreditation (F) Committee voted to accredit the insurance departments in , , and . Accredited insurance departments undergo a comprehensive, independent review every five years to ensure they meet financial solvency oversight standards. The Committee made the announcement during the º£½ÇÂÛ̳ 2025 Spring National Meeting, which is being held in Indianapolis, IN, March 23–26.
The º£½ÇÂÛ̳ Accreditation Program demonstrates that state departments of insurance (DOIs) meet standards of solvency regulation and provide effective regulation of multistate insurers. º£½ÇÂÛ̳ accreditation allows non-domestic states to rely on the accredited domestic regulator to fulfill a baseline level of effective financial regulatory oversight.
To become accredited, a U. S. state or territory DOI must submit to a full on-site accreditation review by a team of independent consultants who evaluate its capabilities in the following areas:
- Financial solvency laws and regulations
- Financial analysis and examination capabilities
- Organizational and personnel practices
- Primary licensing, re-domestications, and change of control of domestic insurers
For a DOI to remain accredited, an accreditation review must be performed at least once every five years, with interim annual reviews. If necessary, key areas for improvement may be provided to the state, and an interim follow-up may be required.
Learn more about the º£½ÇÂÛ̳’s Financial Regulation Standards and Accreditation program.
About the º£½ÇÂÛ̳
As part of our state-based system of insurance regulation in the United States, the º£½ÇÂÛ̳ (º£½ÇÂÛ̳) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the º£½ÇÂÛ̳, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. º£½ÇÂÛ̳ staff supports these efforts and represents the collective views of state regulators domestically and internationally.