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NAIC Budget Proposed, HQ to Move But Only Cross-Town

The NAIC has introduced a budget with $75.4 million in expenses, a 5.3 percent increase from 2010, and projected revenues of $75.2 million, 1.6 percent...
October 27, 2010

The NAIC has introduced a budget with $75.4 million in expenses, a 5.3 percent increase from 2010, and projected revenues of $75.2 million, 1.6 percent higher than the current budget. The 2010 spending plan was the least controversial budget in years. A public hearing has been tentatively scheduled for November 30. Written comments are due by November 15.

Meanwhile, the Executive Committee of the NAIC voted to authorize the association's management to proceed with lease negotiations to move the NAIC's Central Office to Town Pavilion in downtown Kansas City, Missouri. In so doing, the NAIC turned down a package advanced by Kansas City, Kansas. The NAIC's current lease expires in January 2012. The NAIC's Central Office has more than 460 employees. The association also has offices in Washington, D.C. and New York City.