NAIC
Business & Finance abbreviation · Insurance
| Stands for | National Association of Insurance Commissioners |
|---|---|
| Categories | Business & Finance |
NAIC stands for National Association of Insurance Commissioners, an insurance abbreviation.
Organization of the chief insurance regulators of the 50 states, the District of Columbia and five US territories that develops model laws, financial reporting standards and solvency oversight tools.
Example: The NAIC model law was adopted by 40 states.
Usage notes
Founded in 1871. Under the McCarran-Ferguson Act of 1945, insurance in the US is regulated mainly by states rather than the federal government, making NAIC standards highly influential. Each insurer has an NAIC company code.
Related abbreviations
More insurance abbreviations
- LTD – Long-term disability insurance
- MEC – Modified endowment contract
- MedPay – Medical payments coverage
- MGA – Managing general agent
- MVR – Motor vehicle record
- MYGA – Multi-year guaranteed annuity
- NCD – No-claims discount
- NFIP – National Flood Insurance Program
- OCIP – Owner-controlled insurance program
- P&C – Property and casualty insurance
- P&I – Protection and indemnity insurance
- PD – Property damage liability