Four state insurance departments, including Oklahoma’s, received Accreditation Awards under the National Association of Insurance Commissioners’ (NAIC) Financial Regulation Standards and Accreditation Program. In addition to Oklahoma, honors were presented to regulators from Idaho, Kentucky and Washington during the 2004 NAIC Winter National Meeting in New Orleans, La. Accredited insurance departments are required to undergo a comprehensive review every five years by an independent review team to ensure they continue to meet baseline standards. The accreditation standards require that the departments have adequate statutory and administrative authority to regulate an insurer’s corporate and financial affairs, and that they have the necessary resources to carry out that authority. With the presentation, 49 states and the District of Columbia continue to be accredited.
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