The National Association of Insurance Commissioners is allowing for a 3.6% increase in spending in its proposed 2006 budget.[@@]
In the budget draft, NAIC officials predict that NAIC revenue will hold steady, at $59.3 million, and that NAIC spending will increase to $58.3 million, from $56.2 million this year.
The proposed spending plan will support regulatory modernization efforts, says Diane Koken, the Pennsylvania insurance commissioner and president of the NAIC, Kansas City, Mo.
Key budget features: