Members of the plenary of the National Association of Insurance Commissioners, a body that includes all voting NAIC members, voted unanimously Tuesday to pass the NAIC's 2008 budget.
The NAIC, Kansas City, Mo., also has announced the election of the group's 2008 officers.
During a session here at the NAIC's winter meeting, Sandy Praeger, Kansas insurance commissioner and the new NAIC president, noted that the proposed budget had not received much criticism from industry participants.
The 142-page, $68 million budget projects a 5.09% increase in revenue, to $65 million, and a 2.55% increase in expenses, to $66.5 million.