TDCI Earns Accreditation from National Association of Insurance Commissioners

NASHVILLE – The Tennessee Department of Commerce and Insurance (TDCI) is proud to announce that Tennessee has recently received accreditation from the National Association of Insurance Commissioners (NAIC).

The NAIC is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review and coordinate their regulatory oversight.

TDCI’s Division of Insurance regulates approximately 1,917 insurance companies, 1,367 related entities and more than 232,000 insurance agents.

“Accreditation from the NAIC gives Tennessee policyholders confidence that Tennessee’s domestic insurance companies are being continually analyzed under a robust, risk-focused approach that results in more financially sound insurance companies operating in our state,” said TDCI Commissioner Carter Lawrence. “Tennessee insurance companies can conduct business knowing their insurance industry is well-regulated in conformance with national and state standards and best practices while maintaining a level playing field.” As part of the NAIC’s Accreditation Program, state insurance departments must undergo comprehensive, independent review every five years to ensure they meet financial solvency oversight standards. During this review, the team of independent consultants reviews the department’s compliance with the standards to develop a recommendation regarding the state’s accreditation status.

The NAIC Accreditation Program was established to develop and maintain standards to promote effective insurance company financial solvency regulation. The purpose of the accreditation program is for state insurance departments to meet baseline standards of solvency regulation, particularly with respect to regulation of multi-state insurers. NAIC accreditation allows non-domestic states to rely on the accredited domestic regulator to fulfill a baseline level of effective financial regulatory oversight. This creates substantial efficiencies for insurance regulators, who are then able to coordinate and rely on each other’s work. It also creates far greater efficiencies for insurance companies licensed in accredited states, which are then not subject to financial examinations or other financial oversight by multiple jurisdictions. All fifty states, the District of Columbia and the U.S. Virgin Islands are currently accredited. 

About Brad Jones

Brad is the Owner/Operator of BBB TV 12, and has been with the company since August of 1996. Brad is a 1987 graduate of Coalfield High School and a 1995 graduate of the University of Tennessee College of Communications. He won the 1995 broadcast production student of the year award. Brad worked at Shop at Home, Inc. a home shopping network that was located in Knoxville, TN from 1993 - 1995 and then at Via TV (RSTV, Inc.) from 1995 - 1996. After some freelance work in Nashville, Brad joined the BBB Communications staff in August of 1996. A short stint at WVLT TV as a news photographer was in 2001, but he continued to work at BBB TV as well. Brad is married to Nicole Jenkins Jones, a 1990 graduate of Oak Ridge High School, who works at Oak Ridge Gastroenterology and Associates in Oak Ridge. They have 3 kids, Trevor Bogard, 27, Chandler 22, and Naomi 13. On December 12, 2013 they welcomed their first grandchild, Carter Ryan Bogard. Brad is also the assistant boys basketball coach at Coalfield High School for the past 11 years. In 2013-14 the Yellow Jackets won their first district title since 1991 and just the 4th in school history.

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