The National Association of Insurance Commissioners has put its $73.1 million 2009 budget in position for final approval after hearing insurance industry representatives urge curtailed spending.
Action by the Kansas City, Mo.-based organization followed a Nov. 5 public hearing conducted in a conference call format.
NAIC President-elect and New Hampshire Commissioner Roger Sevigny confirmed that the NAIC's Internal Administration (Ex 1) subcommittee approved the budget. The budget still must be approved by the NAIC's executive committee and plenary session in order to be made final.
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