North Dakota Insurance Department Receives Five-Year Accreditation

The North Dakota Insurance Department has received a five-year accreditation renewal from the National Association of Insurance Commissioners (NAIC) to examine and review the financial solvency of insurance companies in North Dakota.

The NAIC’s Financial Regulation Standards and Accreditation Committee approved the accreditation during the NAIC Fall National Meeting in Tampa. The committee, comprised of state insurance regulators from across the country, voted unanimously to approve the accreditation renewal.

A team of auditors visited Bismarck in September to examine the Department’s work to ensure accuracy and organized documentation when completing financial solvency examinations and on-going analysis of insurance companies.

Holding accreditation allows other states to rely on the financial solvency work produced by the Department.

Source: North Dakota Insurance Department