National Association of Insurance Commissioners - NAIC

AAA

DEFINITION of 'National Association of Insurance Commissioners - NAIC'

A nationwide organization whose main responsibility is to protect the interests of insurance consumers. Some of the main objectives of the NAIC are to provide support to insurance regulators across the country by promoting competitive markets, the improvement of insurance regulations and equitable treatment of insurance consumers.

INVESTOPEDIA EXPLAINS 'National Association of Insurance Commissioners - NAIC'

The NAIC was created in 1871, and is headquartered in Kansas City, Missouri. Through its many committees, task forces, and working groups, the NAIC attempts to develop and implement laws and regulations that create national standards in an attempt to further benefit insurance consumers.

RELATED TERMS
  1. Uniform Individual Accident And ...

    A regulation that stipulates that individual health insurance ...
  2. Universal Life Insurance

    A type of flexible permanent life insurance offering the low-cost ...
  3. Blanket Insurance

    A single policy on an insured property that covers more than ...
  4. Self-Regulatory Organization - ...

    A non-governmental organization that has the power to create ...
  5. State Guaranty Fund

    A fund administered by a U.S. state to protect policy holders ...
  6. Securities Industry And Financial ...

    An association that represents firms of all sizes in all financial ...
RELATED FAQS
  1. How does the 80% rule for home insurance work, and how do capital improvements affect ...

    The 80% rule refers to the fact that most insurance companies will not fully cover the cost of damage to a house due to the ... Read Full Answer >>
  2. What are some examples of "pork barrel politics" in the United States?

    So-called "pork barrel politics" has been present in the United States' legislative and, to a lesser degree, executive branches ... Read Full Answer >>
  3. How does the combined ratio measure the financial health of insurance companies?

    The combined ratio measures the profitability of an insurance company by examining its earned premium from its policyholders ... Read Full Answer >>
  4. How is a market failure prevented with regard to public goods?

    It was once commonly accepted that any public good constituted a market failure and provided necessary and sufficient conditions ... Read Full Answer >>
  5. How is a market failure corrected?

    Imperfect market outcomes are corrected through a reallocation of resources or change in incentive structure. Economists ... Read Full Answer >>
  6. What is the difference between adverse selection and moral hazard?

    In economics, moral hazard and adverse selection are two possible consequences of asymmetric information or ineffective information ... Read Full Answer >>
Related Articles
  1. Insurance

    What Happens If Your Insurance Company Goes Bankrupt?

    When insurance companies go bankrupt or face financial difficulty, it's bad news for policy holders.
  2. Home & Auto

    How An Insurance Company Determines Your Premiums

    Find out how insurers use credit history to build an insurance score and how it could affect your bottom line.
  3. Home & Auto

    Taking The Surprise Out Of Long-Term Care

    Don't be caught unprepared - find out what to look for in LTC insurance policies.
  4. Options & Futures

    Top Tips For Cheaper, Better Car Insurance

    Accident, theft, vandalism - make sure your coverage will protect you when you need it most.
  5. Insurance

    Life Insurance: Putting A Price On Peace Of Mind

    Would your death leave loved ones financially stranded? Find out how to ease your mind and keep them protected.
  6. Taxes

    Presidential Candidates And Wall Street In 2016

    Wall Street's influence will play a large role in the 2016 presidential race. As election season begins, candidates are showing their true colors.
  7. Economics

    Presidential Candidates For Students In 2016

    Early 2016 Presidential candidates are already making clear their intended strategies for solving the country's growing student loan debt issues.
  8. Economics

    China And The Maritime Silk Road

    We provide an overview of China's planned Maritime Silk Road.
  9. Forex Education

    What Is A Currency War And How Does It Work?

    We look at what a currency war is, what factors may lead to it, the impacts of such a strategy, and whether there is a currency war currently.
  10. Economics

    What is Adverse Selection?

    Adverse selection occurs when one party in a transaction has more information than the other, especially in insurance and finance-related activities.

You May Also Like

Hot Definitions
  1. Adverse Selection

    1. The tendency of those in dangerous jobs or high risk lifestyles to get life insurance. 2. A situation where sellers have ...
  2. Wash Trading

    The process of buying shares of a company through one broker while selling shares through a different broker. Wash trading ...
  3. Fixed-Income Arbitrage

    An investment strategy that attempts to profit from arbitrage opportunities in interest rate securities. When using a fixed-income ...
  4. Venture-Capital-Backed IPO

    The selling to the public of shares in a company that has previously been funded primarily by private investors. The alternative ...
  5. Merger Arbitrage

    A hedge fund strategy in which the stocks of two merging companies are simultaneously bought and sold to create a riskless ...
  6. Market Failure

    An economic term that encompasses a situation where, in any given market, the quantity of a product demanded by consumers ...
Trading Center