This certification represents a continuation of excellence in the District’s insurance regulation.
The District of Columbia Department of Insurance, Securities and Banking (DISB) received accreditation for another five years by the National Association of Insurance Commissioners (NAIC) on Nov. 18. DISB has been accredited since 1995.
“The NAIC accreditation demonstrates that DISB continues to meet national standards for regulating insurance companies operating in the District,” said Commissioner Stephen C. Taylor. “It is a credit to the hard work of DISB’s staff to ensure we maintain this important regulatory certification for the protection of District of Columbia residents.”
The purpose of NAIC’s Accreditation Program is to develop and maintain national regulatory standards for insurance company solvency. To achieve accreditation, DISB had to demonstrate adherence to legal, financial and organizational standards as determined by a committee of its state regulatory peers.
The NAIC Financial Regulatory Standards and Accreditation Committee voted to approve DISB’s accreditation during the NAIC Fall Annual Meeting last week in National Harbor, Maryland.
DISB monitors the solvency of insurance companies and captive insurance companies operating in the District.
To read more about NAIC’s Accreditation Program, follow this link.