State of Connecticut - Insurance Department

December 10, 2019
CONTACT: Jim Carson, 860-297-3958
Commissioner Mais Announces Department's
Re-Accreditation by NAIC

Connecticut Insurance Department (CID) Commissioner Andrew N. Mais is pleased to announce the Department’s re-accreditation by the National Association of Insurance Commissioners (NAIC). 

The NAIC Financial Regulation Standards and Accreditation (F) Committee voted to award continued accreditation to the CID at their national meeting on December 6.  Accredited state insurance departments undergo comprehensive, independent review every five years to ensure they meet financial solvency oversight standards.

“I am very proud to see our accreditation renewed. It is a testament to the Department’s commitment to consumer protection and quality of work,” said Commissioner Mais.

About the Connecticut Insurance Department: The mission of the Department is to protect consumers through regulation of the industry, outreach, education and advocacy. In FY 2018, the Department recovered more than $4.5 million on behalf of consumers and regulates the industry by ensuring carriers adhere to state insurance laws and regulations and are financially solvent to pay claims. The Department’s annual budget is funded through assessments from the insurance industry. For every dollar of direct expense, the Department brings in about $8.35 to the state in revenues. In FY 2018, the Department returned more than $145 million in assessments, fees, fines and penalties, and taxes to the state’s General Fund.
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