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 Says:
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:
Assurance
Blanket Insurance
Insurance
Key Person Insurance
Level-Premium Insurance
Multiline Insurance
Securities Industry And Financial Markets Association - SIFMA
Self-Regulatory Organization - SRO
State Guaranty Fund
Universal Life Insurance |