D.C. Commissioner Puts Some Questions To NAIC's Questioners

Bonnie Burns, director of consumer education, California Health Advocates, Scotts Valley, Calif.

CHA is an association of senior health workers with 36 members and “a budget of $200,000 and dropping.”

William Anderson, vice president and associate general counsel, National Association of Insurance and Financial Advisors, Falls Church, Va.

NAIFA is an association of 70,000 life and health advisors with an annual budget of $15 million.

Alice Weiss, director of health policy with the National Partnership of Women and Families, Washington.

The National Partnership is not a membership organization. Its focus is workplace fairness issues and health care. It has a budget of $1 million from major donors and foundations.

Cathy Steinberg, the consumer advocate for the state of Georgia.

The office represents all the citizens of Georgia. It has a staff of 13 people and a budget of $900,000 that becomes “littler and littler” with budget cuts.

Birny Birnbaum, executive director, The Center for Economic Justice, Austin, Texas.

The organization represents consumers including low-income consumers. “Our budget is a couple of hundred grand that we receive from public and private foundations. We have not received our stipend this year from the Trial Lawyers Association.”

Patricia Parachini, senior director, office of the general counsel with the American Council of Life Insurers, Washington.

The ACLI represents 390 life insurance companies. It is a nonprofit organization that has a budget of $34 million.

As for the NAIC itself, it is a 501(c)3 organization with projected revenues of $52,947,218 in 2003, according to a published projected budget. It is funded through state assessments, database fees, publications/subscriptions, national meeting registration fees, investment income and education programs.

State assessments are expected to comprise $1,815,604 in 2003, database fees, $23,498,875, and publications/subscriptions, $13,546,705.

NAIC salaries are expected to total $23,301,951 in 2003, according to the NAIC proposed budget.

Reproduced from National Underwriter Life & Health/Financial Services Edition, November 18, 2002. Copyright 2002 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.