NAIC Calls For Hikes
|In 2006 Operating Budget
|The National Association of Insurance Commissioners released aproposed 2006 budget that calls for a nearly 4 percent increase inspending over the current plan.
|The consolidated budget calls for projected revenue of $59.3million (up less than 1 percent over this year) and spending of$58.3 million (up 3.63 percent).
|NAIC President Diane Koken, who also serves as Pennsylvania'sinsurance commissioner, said the spending plan supports regulatorymodernization efforts.
|Robert Zeman, senior vice president for the Property CasualtyInsurers Association of America, said that on the positive side,the proposed spending increase was modest, although he cited hismembers' "lingering concerns about the overall size of the NAICbudget and its surplus."
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