NAIC's proposed 2013 budget draws flak from insurer groups

11/14/2012 | National Underwriter Life & Health

Insurer groups are raising concerns over the National Association of Insurance Commissioners' proposed 2013 budget, which would boost NAIC's total unrestricted net assets to $83.3 million by the end of next year. "PCI urges the NAIC to adopt a 2013 budget that projects no growth in revenues and expenses. The majority of NAIC revenues come from PCI members and the rest of the insurance industry, and the NAIC's budget should be viewed in conjunction with the current economic environment in which those companies operate," a letter from PCI's Deirdre Manna says.

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