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. Insurance Industry ETF

    A sector-following fund that invests primarily in insurance companies, ...
  2. Bureau Rate

    A standard price per unit of insurance set by a state's insurance ...
  3. Personal Lines Insurance

    Property and casualty insurance products for individuals that ...
  4. American Risk and Insurance Association

    A professional organization for academics and associates in the ...
  5. Industry Bet

    A strategy whereby investors or portfolio managers increase or ...
  6. File-And-Use Rating Laws

    Insurance regulations allowing an insurance company to use new ...
Related Articles
  1. Insurance

    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.
  2. Investing

    A Big Boon for Bond ETFs

    Insurance companies could be big drivers of growth for bond ETFs.
  3. Insurance

    Exploring Advanced Insurance Contract Fundamentals

    Understanding your contract can help you protect our family's financial security.
  4. Insurance

    Top Insurance Companies

    Ranking the largest insurance companies can be done in a number of ways. Identifying which companies are competitors is a good place to start.
  5. Insurance

    Explaining Insurance

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

    Do You Need Casualty Insurance?

    Find out how different types of coverages can protect you and which policy is right for you.
RELATED FAQS
  1. 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 >>
  2. 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 >>
  3. What are some examples of when insurance bundling is a bad idea?

    Learn about situations where insurance bundling may not be a favorable option. Bundling insurance is often a good idea, but ... Read Answer >>
Hot Definitions
  1. Drawdown

    The peak-to-trough decline during a specific record period of an investment, fund or commodity. A drawdown is usually quoted ...
  2. Inverse Transaction

    A transaction that can cancel out a forward contract that has the same value date.
  3. Redemption

    The return of an investor's principal in a fixed income security, such as a preferred stock or bond; or the sale of units ...
  4. Solvency

    The ability of a company to meet its long-term financial obligations. Solvency is essential to staying in business, but a ...
  5. Dilution

    A reduction in the ownership percentage of a share of stock caused by the issuance of new stock. Dilution can also occur ...
  6. Agency Problem

    A conflict of interest inherent in any relationship where one party is expected to act in another's best interests. The problem ...
Trading Center