The National Association of Insurance Commissioners (NAIC) has released its proposed budget for 2026, marking the start of the organization’s annual budget approval process. The budget was developed over several months by NAIC Officers, the Internal Administration (EX1) Subcommittee, the Executive (EX) Committee, and included input from the Chief Executive Officer and other senior leaders.
“As the insurance landscape continues to accelerate in scale and unprecedented change, our objective is clear: to sustain a stable, forward-thinking regulatory framework,” said Scott A. White, NAIC President-Elect and Virginia Insurance Commissioner. “The NAIC’s 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.”
The proposed budget outlines total revenues of $178.8 million and total expenses of $186.3 million for 2026. This represents a 7.1% increase in revenues and a 6.3% increase in expenses compared to the 2025 budget.
Five fiscal impact statements are included in the proposal:
1. Regulatory Data Integration and Enhancement of Solvency Related Tools: This item supports ongoing work on a centralized data portal, migration of legacy data, and development of new solvency tools to modernize financial analysis and improve regulatory oversight.
2. SERFF Modernization – 2026 Transition Stages: The modernization of the electronic rates and forms filing system continues, with 10 jurisdictions transitioning in early 2026 and up to 15 more by year-end. The initiative uses new technologies in document management and artificial intelligence.
3. Financial Data Repository (FDR) Modernization: This supports the full implementation of a modernized financial data system to improve accessibility and usability for regulators and stakeholders.
4. SBS Implementations – 2026: Funding will go toward external consultants for three system implementations next year, helping manage workloads and maintain support for jurisdictions.
5. Regulatory Support and Operational Resources: The budget proposes adding staff in regulatory and operational areas, partially offset by reducing consultant positions.
The proposed budget is available on the NAIC’s About Budget page.
A virtual budget briefing for interested parties is scheduled for October 30, 2025. Pre-registration is required for participation. The deadline for submitting written comments is November 14, 2025. A public hearing on the budget will take place on November 24, 2025, with further details to be posted on the NAIC website.
