The National Association of Insurance Commissioners said they are making public receivership statistics and information on state insurance department resources.

Release of department resources is an annual event, providing the receivership is a newer process.

Kansas City, Mo.-based NAIC released its Global Receivership Information database, known as GRID, which provides “a national clearinghouse for receivership information…” on bankrupt insurance companies.

The database will include information for more than 1,200 receiverships provided by the states and the District of Columbia.

NAIC said the material will include “receivership contact information, relevant court orders and docket numbers, ongoing tasks, distribution of assets, claims-liability details, business activity and deposits.”

GRID can be accessed via the NAIC's Consumer Information Source at www.naic.org/cis. The CIS database provides several basic types of licensing details and key financial data.

The move follows the recent release of information in the NAIC's Insurance Department Resources Report, a survey of NAIC states that offers states comparative information on other states.

The report is organized in five sections: staffing, budget and funding, examination and oversight, insurance producers, and consumer services and antifraud.

The report includes information such as number of departmental staff and their functions, annual budgets, revenue flows, premium volume, number of insurers and insurance producers, and the number of consumer complaints and inquiries.

Among the findings in the report:

o Premiums increased by 11.5 percent to $1.6 trillion in 2007 over 2006.

o The five states with the largest premiums written in 2007 include California, New York, Texas, Florida and Pennsylvania, comprising a total of 39.6 percent of U.S. premium.

o There were a total of 7,773 domestic U.S. insurers in 2007.

o State insurance departments received more than 371,000 official complaints and 2.4 million inquiries.

Other data in the extensive 86-page report relates to budgets including such facts as:

o Insurance department budget levels for fiscal year 2009 are expected to rise 1.8 percent.

o Budget totals for all states are expected to reach $1.5 billion for FY 2009 with New York contributing the largest piece of that total at $116.4 million.

o Twelve states reported decreases in their 2009 fiscal year budgets.

Concerning revenues the report reveals:

o The state with the highest total revenues was California with $2,372,418,321, while Wyoming had the lowest with $29,773,617.

o Total taxes as a piece of total revenue were largest in California with $2,159,849,480, while Michigan had the lowest with $13,062,062.

o New York had the highest total for fees and assessments with $649,945,378, while Missouri had a low of $749,798.

o Fines and penalties totaled $11,411,539 in Pennsylvania and a low of $9,947 in New Mexico.

In 2007, for all states, 4,073 fines and 321 restitutions were levied against insurance producers, 15,899 licenses were suspended, and 1,463 licenses were revoked.

And in 2007, for those states that reported examinations, Florida had the highest number of market conduct exams with a total of 300, and New Mexico, South Dakota and Wisconsin reported a low of one.

The highest number of financial exams reported in 2007 was in Vermont with 146 exams, and the lowest number was in Alabama with one exam.

Both hard and electronic copies of the NAIC's IDRR report can be purchased by going to either www.naic.org/store_home.htm. or https://external-apps.naic.org/insPubs/index.jsp for an electronic version.

Special Reports /

NAIC Makes A Raft Of Insurer Data Public

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