National Association of Insurance Commissioners


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Related to National Association of Insurance Commissioners: National Association of Investors Corporation

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.
References in periodicals archive ?
The National Association of Insurance Commissioners (NAIC) currently has a project under way to codify statutory accounting practices through a complete revision of its Accounting Practices and Procedures Manuals, which, when complete, are expected to replace prescribed and permitted accounting practices as the statutory basis of accounting for insurance enterprises.
June 1-4 National Association of Insurance Commissioners: NAIC Summer National Meeting, San Francisco Marriott, San Francisco.
June 1-5 National Association of Insurance Commissioners: Summer National Meeting, San Francisco Marriott, San Francisco.
March 10-13 National Association of Insurance Commissioners: Spring National Meeting, Hilton New York, New York.
Stranger-originated and investor-originated life insurance is a fast-growing and huge piece of the overall life settlement market, said North Dakota Insurance Commissioner Jim Poolman, chairman of the National Association of Insurance Commissioners' Life Insurance and Annuities Committee.
Last spring, the National Association of Insurance Commissioners' Securities Valuation Office--which is charged with evaluating the quality of insurance company investments--made a ruling that dampened the investment market for hybrid securities for six months, causing the value of investments held by life insurers to fall $1 billion in value.
"We just have to see how quickly they can come up to speed in what's happening legislatively and with the National Association of Insurance Commissioners."
Specifically at issue was an overview draft of a white paper under joint consideration with the National Association of Insurance Commissioners. The group's acting chairwoman, Nebraska state Sen.
* Domestic and alien reinsurers are watching closely to see if the National Association of Insurance Commissioners moves to modify its collateral requirements for the latter by the beginning of 2007.
The move to change the collateral rules as they apply to alien reinsurers has come one step closer to completion as the project now rests with a senior committee of the National Association of Insurance Commissioners.
regulatory system for credit for reinsurance led the Reinsurance Task Force of the National Association of Insurance Commissioners recently to take a much needed step forward at the Summer NAIC meeting by voting to advance a proposal to ease collateral requirements for non-U.S, reinsurers.

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