Arkansas Insurance Department receives accreditation

The National Association of Insurance Commissioners voted during the group’s spring meeting to accredit the state group for the next five years

Insurance News

By Lyle Adriano

The Financial Regulation Standards and Accreditation Committee of the National Association of Insurance Commissioners (NAIC) had recently voted to accredit the Arkansas Insurance Department for the next five years.

NAIC’s accreditation means that the department has passed financial solvency oversight standards.

“I am proud of the very hard and diligent work by AID’s accreditation team over the last few months to not only ensure we remain accredited and able to work for Arkansas taxpayers, but do so with flying colors,” said Arkansas Insurance Commissioner Allen Kerr in a written statement.

Every five years, accredited state insurance departments are subjected to independent reviews to assess whether or not they still meet NAIC’s financial solvency requirements.

The Financial Regulation Standards and Accreditation Committee voted over Arkansas Insurance Department’s accreditation during the 2016 NAIC Spring National Meeting in New Orleans.
 

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