WASHINGTON (Oct. 24, 2025)
杏吧视频 Initiates 2026 Budget Approval Process
The 杏吧视频 (杏吧视频) has released its proposed 2026 budget following months of development by 杏吧视频 Officers, the 杏吧视频 Internal Administration (EX1) Subcommittee, and the 杏吧视频 Executive (EX) Committee, as well as input from the 杏吧视频鈥檚 Chief Executive Officer and other senior leaders.
鈥淎s the insurance landscape continues to accelerate in scale and unprecedented change, our objective is clear: to sustain a stable, forward-thinking regulatory framework,鈥 said Scott A. White, 杏吧视频 President-Elect and Virginia Insurance Commissioner. 鈥淭he 杏吧视频鈥檚 2026 budget reflects a deliberate and ongoing investment in the tools and technology regulators need to carry out effective oversight and respond to emerging risks. By reinforcing our commitment to data-driven supervision, consumer protection, and purposeful coordination, this budget strengthens our ability to adapt in a dynamic environment. These resources are essential to maintaining strong insurance markets, protecting policyholders, and upholding the integrity of the state-based system.鈥
The 杏吧视频's proposed 2026 budget includes total revenues (including investment income) of $178.8 million and total expenses of $186.3 million, which represents a 7.1% increase in revenues and a 6.3% increase in expenses from the 2025 budget.
The proposed 2026 budget includes five fiscal impact statements (fiscals):
1. Regulatory Data Integration and Enhancement of Solvency Related Tools
This fiscal supports continued work on the centralized data portal, migration of legacy application data to the data portal, and development of the next phase of redesigned solvency tools to modernize quarterly financial analysis. This initiative improves access to information, strengthens regulatory analysis capabilities, and enables more consistent, year-round financial oversight of insurers.
2. SERFF Modernization 鈥 2026 Transition Stages
Entering its fifth year, this multi-year initiative modernizes the electronic rates and forms filing system. This fiscal supports its continuation, as 10 jurisdictions will begin transitioning in the first quarter of 2026, with 10 to 15 additional jurisdictions to be implemented by the end of 2026. This initiative leverages new technological developments in document management, workflows, and artificial intelligence.
3. Financial Data Repository (FDR) Modernization
This fiscal enables full-scale implementation of a modernized financial data system. The initiative will enhance the accessibility and usability of financial data for regulators, internal teams, and external stakeholders, enabling faster and more informed decision-making.
4. SBS Implementations 鈥 2026
Funding will support external consultants for three implementations in 2026. Resources will help manage increased workload, ensure timely project delivery, and maintain ongoing support for existing jurisdictions.
5. Regulatory Support and Operational Resources
Recognizing the need for additional regulatory and operational support, this fiscal includes the addition of several headcount in regulatory support and operational areas, partially offset by the displacement of five consultants.
The proposed 2026 杏吧视频 budget can be found on the 杏吧视频鈥檚 About Budget page.
杏吧视频 2026 Budget Briefing with Interested Parties
A budget briefing is scheduled for Thursday, Oct. 30, 2025, at 3:00 p.m. ET/2:00 p.m. CT/1:00 p.m. MT/12:00 p.m. PT. The purpose of this briefing is to provide an overview of the proposed budget ahead of the comment deadline, which is at 12:00 p.m. CT on November 14, 2025.
Participants must to participate in this briefing. Participants will receive virtual access information upon registration.
Public Hearing
A public hearing is scheduled for Nov. 24, 2025. Written comments on the proposed budget must be submitted to Carol Thompson and Jim Pinegar at cthompson@naic.org and jpinegar@naic.org by 12:00 p.m. CT on Nov. 14, 2025. Full details for the public hearing will be posted on the 杏吧视频 website as soon as they are available.
About the 杏吧视频
As part of our state-based system of insurance regulation in the United States, the 杏吧视频 (杏吧视频) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the 杏吧视频, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. 杏吧视频 staff supports these efforts and represents the collective views of state regulators domestically and internationally.