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DE Commissioner Accepts Insurance Dept. Accreditation From NAIC

16 Jun, 2009 WorkersCompensation.com

                               
Dover, DE (CompNewsNetwork) - The Delaware Department of Insurance was awarded accreditation for a five year period which is the longest period allowed by the National Association of Insurance Commissioners (NAIC).  The award was conferred by the NAIC at its summer meeting in Minneapolis on Friday, June 12, 2009.

The accreditation process is a comprehensive, independent review that ensures that insurance departments meet and exceed financial solvency oversight standards.

According to Insurance Commissioner Karen Weldin Stewart, “We were confident that our team would deliver a five year award. The five year award recognizes the Department's dedication to providing quality service while working to eliminate insolvency.”

BERG Team: Department of Insurance Bureau of Examination, Rehabilitation and Guaranty staff (Commissioner Karen Weldin Stewart second from left)The Delaware Insurance Department was under review during the month of May by the NAIC's Financial Regulation Standards and Accreditation Committee.  Commissioner Stewart said, “The Department underwent a comprehensive review by an independent review team which at times seemed like a small army of accountants, filling all three conference rooms with people and computers.”

This award is a tribute to Steve White, the head of the Department's Bureau of Examination, Rehabilitation and Guaranty.  On Easter Sunday, Mr. White passed away due to complications from diabetes. Commissioner Stewart said, “I only wish that Steve could be here. I know he would share my pride in our staff, who have met the highest standards of regulatory excellence, and I appreciate the NAIC's recognition of their dedication and expertise."

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