NAIC

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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.

NAIC

See National Association of Investors Corporation.

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References in periodicals archive ?

The work of the NAIC to modernize our life industry's valuation system demonstrates the states are capable of working together to make regulatory changes when it makes sense for the life insurance marketplace and consumers," says NAIC Vice President Julie Mix McPeak, who also serves as Tennessee Insurance Commissioner and PBR Implementation Task Force co-chair.

NAIC to kick-start principle-based reserving in 2017

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.

Regulators tackle life buyer guide update

Centralized tracking of changes to the NAIC technology environment benefits cybersecurity efforts and strengthens NAIC's position for audits and certifications.

United States : NAIC initiates 2017 budget approval process

To date, the NAIC has created a guidance document that is more of a high-level overview of the program for regulators.

Pressure points: groupwide supervision and ORSA are among a wave of regulatory challenges for the industry in 2015

The NAIC Executive Committee had previously rejected the move to hire an outside consultant to review the association's policies.

NAIC corporate governance review to move forward

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.

Leonardi unloads on NAIC corporate governance; calls for outside review

Vaughan headed the NAIC during a period when the insurance industry endured the fallout from the mortgage housing bubble in general and the takeover of the nearly-insolvent American International.

At the NAIC, a changing of the guard

This Article discusses the role of the NAIC in health care reform.

Reflections on the National Ass'n of Insurance Commissioners and the implementation of the Patient Protection and Affordable Care Act

The NYSID works and provides leadership in many areas in the NAIC.

Supt. Wrynn elected to NAIC leadership

The agreement incorporates nonpublic information on financial solvency, insurance activities and thrift activities, as well as consumer complaints about the companies and thrift institutions NAIC members and OTS supervise.