US state insurance departments received more than 260,000 official complaints and 2.1 million inquiries in 2013, according to the first volume of the 27th edition of the Insurance Department Resources Report (IDRR).
The report, released by the National Association of Insurance Commissioners (NAIC), is designed to help state insurance departments assess their resources in comparison to other states.
The report details how state insurance departments manage available resources to effectively regulate the increasingly complex and competitive industry.
The first volume of the IDRR contains information by state on the number of departmental staff and their functions, annual budgets, revenue flows, the number of insurers and insurance producers, and the number of consumer complaints and inquires.
The second volume, which will be released in August, will primarily include information on premium volume by type and by state.
Developed primarily through an extensive survey of the NAIC member states, volume one of the IDRR is organised into five sections: Staffing; Budget and Funding; Examination and Oversight; Insurance Producers; and Consumer Services and Antifraud.
The report also showed that California reported the largest 2015 budget, which is $39 million greater than the second-largest 2015 budget (New York).
6,086 domestic US insurers were analysed in order to compile the 2013 report.
As well as being a key assessment tool for state insurance departments, the IDRR is used as reference material by state legislators, other financial regulators and public policymakers.
