19 August 2021

NAIC renews accreditation for District of Columbia’s DISB


The District of Columbia Department of Insurance, Securities and Banking (DISB) has received accreditation renewal for a five-year term from the National Association of Insurance Commissioners (NAIC).

The NAIC accreditation means the DISB meets the national standards for regulation of the financial condition of insurance companies.

“Accreditation from the NAIC ensures that District policyholders are receiving the highest level of service from domestic insurance companies that are being held to rigorous standards,” said DISB commissioner, Karima M. Woods.

“District of Columbia insurance buyers can be confident in their purchase knowing their insurance industry is well-regulated in conformance with national standards and best practices.”

As part of the NAIC’s Accreditation Program, DISB must undergo a comprehensive, independent review every five years to ensure it meets financial solvency oversight standards.

During this review, a team of independent consultants reviews the Department's compliance with the standards and develops a recommendation regarding the District's accreditation status.


More on this story

Actuarial & underwriting
18 June 2019   Demand for cyber insurance continued to grow in 2018, but it remains unclear exactly how big the market is due to a lack of data from captives.
Analysis
15 August 2018   The Cayman Islands Monetary Authority (CIMA) has signed a memorandum of understanding (MOU) with The National Association of Insurance Commissioners (NAIC).
article
17 December 2021   Award renamed for Ray Farmer for years of leadership in regulation and service.

More on this story

Actuarial & underwriting
18 June 2019   Demand for cyber insurance continued to grow in 2018, but it remains unclear exactly how big the market is due to a lack of data from captives.
Analysis
15 August 2018   The Cayman Islands Monetary Authority (CIMA) has signed a memorandum of understanding (MOU) with The National Association of Insurance Commissioners (NAIC).
article
17 December 2021   Award renamed for Ray Farmer for years of leadership in regulation and service.