The National Association of Insurance Commissioners is reporting an increase in revenue and assets for 2019, as pressing concerns about the COVID-19 pandemic push fond memories of 2019 further into obscurity.
The Kansas City, Missouri-based, nonprofit state insurance regulator group is reporting an $18 million change in net assets without donor restrictions for 2019 on $113 million in revenue, up from a $2.9 million in net assets without donor restrictions on $106 million in revenue for 2018.
- A copy of the NAIC’s 2019 annual report is available here.
- An article about the Interstate Insurance Product Regulation Commission’s 2019 annual report is available here.
Education and training revenue fell to $678,392, from $749,045, but all other forms of revenue showed growth.
The biggest source of revenue, database fees, increased to $31 million, from $30 million.
Fees from investment valuation services rose to $29 million, from $27 million.
The narrative section at the beginning identifies priorities such as addressing the problems in the long-term care insurance market and continuing to strengthen health insurance regulation.
But, in a foreword to the annual report, the NAIC acknowledges that COVID-19 has put insurance regulatory priorities in a different light.