National Association of Insurance Commissioners - NAIC

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.

BREAKING DOWN '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. Early Warning Tests

    A series of financial ratios and other performance criteria used ...
  3. Convention Statement

    A document filed by an insurance or reinsurance company that ...
  4. National Association of Investors ...

    A non-profit organization that is dedicated to providing investing ...
  5. Insurance Regulatory Information ...

    A collection of databases and tools used to analyze the financial ...
  6. Associate In Insurance Accounting ...

    A professional designation program designed to educate candidates ...
Related Articles
  1. Personal Finance

    The History Of Insurance In America

    Insurance was a latecomer to the American landscape, largely due to the country's unknown risks.
  2. Personal Finance

    Understanding Your Insurance Contract

    Learn how to read one of the most important documents you own.
  3. Personal Finance

    Bundle Your Insurance For Big Savings

    Bundling your insurance can save you money and time. Read on to see how get the most out of multiline insurance discounts.
  4. Personal Finance

    Exploring Advanced Insurance Contract Fundamentals

    Understanding your contract can help you protect our family's financial security.
  5. Personal Finance

    What Happens If Your Insurance Company Goes Bankrupt?

    When insurance companies go bankrupt or face financial difficulty, it's bad news for policy holders.
  6. Personal Finance

    Explaining Insurance

    Insurance is a form of contract between an individual and an insurance company that spreads risk in exchange for premium payments.
  7. Personal Finance

    Life Insurance

    Life insurance is an important component of basic financial planning. Find out how life insurance works and how insurance companies are able to profit through providing financial security to ...
  8. Personal Finance

    How Much Life Insurance Should You Carry?

    Learn how much - if any - insurance you really need.
  9. Personal Finance

    How to Protect Your Income No Matter What

    What does it mean to insure your income? Here are a variety of ways to do it and some insights into when it might make sense to invest in income insurance.
  10. Personal Finance

    The Dangers Of Stranger-Owned Life Insurance

    Find out how these policies can be used to abuse the system that many people rely on for protection.
RELATED FAQS
  1. Can your insurance company cancel your policy without notice?

    Learn about your rights as an insured when it comes to your insurance policy being canceled, including how to access your ... Read Answer >>
  2. What is the average return on total revenue for the insurance sector?

    Learn about the three main segments of the insurance industry, and find out what the average return on revenues is for the ... Read Answer >>
  3. What level of reserve ratios is typical for an insurance company to protect against ...

    Read about the NAIC-inspired risk-based capital, or RBC, requirements imposed on American insurance companies to safeguard ... Read Answer >>
  4. What risks do I face when investing in the insurance sector?

    Read about the unique challenges faced by insurers, and learn how those challenges manifest themselves as risks for equity ... Read Answer >>
  5. In what ways does government regulation impact the insurance sector?

    See how government regulation of the insurance sector leads to higher prices, more risk and a system where the consumer has ... Read Answer >>
  6. What are examples of the largest companies in the insurance sector?

    Read about some of the largest and most influential companies in the insurance sector, a list that includes Berkshire Hathaway ... Read Answer >>
Hot Definitions
  1. European Union - EU

    A group of European countries that participates in the world economy as one economic unit and operates under one official ...
  2. Sell-Off

    The rapid selling of securities, such as stocks, bonds and commodities. The increase in supply leads to a decline in the ...
  3. Brazil, Russia, India And China - BRIC

    An acronym for the economies of Brazil, Russia, India and China combined. It has been speculated that by 2050 these four ...
  4. Brexit

    The Brexit, an abbreviation of "British exit" that mirrors the term Grexit, refers to the possibility of Britain's withdrawal ...
  5. Underweight

    1. A situation where a portfolio does not hold a sufficient amount of a particular security when compared to the security's ...
  6. Russell 3000 Index

    A market capitalization weighted equity index maintained by the Russell Investment Group that seeks to be a benchmark of ...
Trading Center