Prosperous times continue to put the squeeze on the ability of state insurance departments to retain financial examiners, a problem that has made the accreditation program run by the National Association of Insurance Commissioners bumpy for some states.
The accreditation program is a voluntary effort that allows states to accept each other's financial examinations without additional costs for the companies being audited.
Currently, 45 states and the District of Columbia have either first- or second-round accreditation, according to Bob Martin, a representative for the Kansas City, Mo.-based NAIC.
Every five years, a state department's accreditation is reviewed. To date, 36 states have received accreditation for a second time.
Washington and West Virginia have had their accreditation suspended.
