The Point
ICYMI: Texas Think Tank Spotlights NAIC's Unaccountable Power
A new TCCRI primer examines NAIC's unaccountable regulatory power, industry-funded revenue, and influence over Texas insurance rules.
As the Fall National Meeting of the National Association of Insurance Commissioners (NAIC) kicks off in Dallas this weekend, the Texas Conservative Coalition Research Institute (TCCRI) has released a new primer on the organization. It argues that NAIC has become a regulator without real accountability.
The primer's main findings:
- NAIC is a private nonprofit with more than 500 employees and almost $192 million in projected 2027 operating revenue.
- GAO found that 94 percent of its 2024 revenue came from fees paid by insurers and data purchasers.
- As a private entity, NAIC is not subject to due process requirements or judicial review.
- Texas law, including Insurance Code Section 421.001, ties insurer requirements to "current" NAIC formulas.
- States that resist NAIC standards risk losing accreditation.
Read the full primer from TCCRI.
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- New Pinpoint Comment Letter Urges NAIC to Enforce Existing Rules Before Expanding Them
- New GAO Report Confirms the NAIC Has an Accountability Problem
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