AIA: NAIC's Budget, Surplus Bloated

NU Online News Service, Nov. 3, 3:25 p.m. EST?The association representing United States insurance regulators has too large a surplus and is spending too much on meetings, travel and other projects, accused an insurer trade group.

The National Association of Insurance Commissioners' 2004 budget should be set at an amount not to exceed the projected revenues and expenses of 2003, the Washington, D.C-based American Insurance Association contends.

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