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National Association of Insurance Commissioners

Also called the NAIC. A non-profit organization in the United States consisting of the heads of the insurance departments of each state and U.S. territory. The NAIC drafts model legislation and conducts other activities geared toward bringing together the insurance regulation laws in each state. The NAIC exists because each state may regulate insurance autonomously but it is advantageous for the states to have similar laws for the sake of consistency and to reduce jurisdictional arbitrage. The NAIC was established in 1871.

National Association of Investors Corporation

An umbrella organization of thousands of local clubs across the United States that encourages successful investment practices among members. In particular, the NAIC encourages members to make long-term investments in companies with high growth potential. It runs educational and support programs for members. It was established in 1951 and is based in Michigan. It is also called BetterInvesting.


References in periodicals archive ?
There are also many consumers who have good reasons to prefer a short-term plan, and some who are simply not afford any ACA-compliant major medical plan, the NAIC officers said.
Consedine, who helps lead an NAIC health insurance committee with the Wisconsin Commissioner Ted Nickel, on the concerns of states that have taken alternative routes to ACA health insurance implementation, i.
The NAIC will hold discussions at national meetings next year to address details of the implementation, Morrison said.
In April, for example, participants in a Life Insurance and Annuities Committee session at an in-person NAIC meeting in New Orleans said the American Academy of Actuaries wanted to see the NAIC rewrite the guide.
Centralized tracking of changes to the NAIC technology environment benefits cybersecurity efforts and strengthens NAIC's position for audits and certifications.
To date, the NAIC has created a guidance document that is more of a high-level overview of the program for regulators.
The NAIC Executive Committee had previously rejected the move to hire an outside consultant to review the association's policies.
He also accused the NAIC leadership of cronyism, and being under the "undue influence of two former [unnamed] commissioners," who continue to undermine the organization, and who are now after CEO Sen.
Vaughan would be stepping down after completing her four-year term as the first NAIC CEO.
The NAIC is said to have hired BlackRock, Inc to review about 7,000 mortgage-backed securities.
As a member of the NAIC Executive Committee, Wrynn will help to set policy on national insurance regulation issues at a key time for the industry.