The mission of the Division of Financial Standards and Examination is to protect consumers by ensuring the financial solvency of insurers authorized or registered to conduct business in Kentucky. This is accomplished through administrative oversight, financial analysis, and financial examinations. A brief description of each area within the division is as follows:

Company administration is responsible for licensing, maintaining records, and processing various filings of approximately 1,600 companies that are currently authorized or registered to conduct business in Kentucky.

Financial analysis is responsible for performing an extensive analysis of quarterly and annual financial statements, and all supplemental filings of domestic insurers. Foreign insurers also are analyzed and regulated through the early warning analyst position.

Financial examination is responsible for conducting both statutorily required examinations and targeted examinations, as necessary. Generally, examination resources are focused on Kentucky domestic insurers, although the authority exists to examine all licensed insurers, if deemed necessary.

Captive insurance companies also are licensed and regulated through the Division of Financial Standards and Examination.

The Kentucky Department of Insurance is  accredited by the National Association of Insurance Commissioners (NAIC) Financial Regulation Standards and Accreditation Program.

The mission of the Division of Financial Standards and Examination is to protect consumers by ensuring the financial solvency of insurers authorized or registered to conduct business in Kentucky.  Read More..