ME | On November 30, 2023, the National Association of Insurance Commissioners (NAIC) Financial Regulation Standards and Accreditation (F) Committee voted to accredit the Maine Bureau of Insurance (BOI) for another 5 years.
NAIC accreditation demonstrates that the BOI meets standards of solvency regulation and provides effective regulation of multi-state insurers. The accreditation process involves a rigorous multi-day on-site review by a team of independent financial regulation consultants. To remain accredited, an accreditation review must be performed at least once every five years.