Department Of Insurance Accreditation Renewed

Five-year renewal earned after intensive assessment

The Delaware Department of Insurance announced today that the National Association of Insurance Commissioners (NAIC) renewed its five-year accreditation this week following a hearing at the organization’s Spring National Meeting. The NAIC’s Financial Regulation Standards and Accreditation Committee was on-site earlier this year to conduct an in-depth review of department regulations, state laws, financial analyses and examinations of companies, personnel practices, licensing, and interaction with domestic insurers.

“Delaware’s regulatory reach expands far beyond its borders, and accreditation compares every aspect of what we do to the best practices in place across the country. While it’s no surprise to me that our hard-working team impressed the nation’s experts, I still want to recognize this momentous achievement,” shared Insurance Commissioner Trinidad Navarro. “Accreditation is an incredibly intensive process, and we prepare for it for years all while keeping up with our traditional duties. As the Committee noted, we need to increase staff to address the successes we have had bringing in new domestic insurers – but at the same time, it is incredibly impressive what we have achieved with a small team.”

On-site in Delaware, the Bureau of Examination, Rehabilitation, and Guaranty (BERG) was scrutinized closely, and interviews were conducted with Commissioner Navarro and Deputy Insurance Commissioner Tanisha Merced.

“The work of our office is expanding rapidly as we continue to attract new insurers to the state. Our renewed accreditation recognizes that our successes and growth have not diminished the department’s oversight of these companies or our commitment to protecting insurance consumers,” said Deputy Insurance Commissioner Tanisha Merced. “This is a proud day for the department.”

BERG now regulates 150 domestic companies with $809 billion in assets, as well as 2,304 other companies operating in the state – and their work continues to grow. From 2023 to 2024 they saw a $40 billion increase in assets managed, and in 2024 completed 22 financial examinations with 37 in progress at the end of the year. In addition to ensuring carriers are solvent to pay consumers’ claims, this team’s work contributes substantially to the State of Delaware General Fund.

More information on accreditation from the NAIC