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NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. The NAIC is an Internal Revenue Code Section 501(c)(3) non-profit organization.
NAIC’s complaint index shows the number of complaints lodged against a company, broken down by product line. With a benchmark index of 1.0, anything above that indicates a higher number of ...
Using the NAIC Life Policy Locator, you can submit a request with the legal name, date of birth, Social Security number and date of death for the deceased person to find a life insurance policy or ...
Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in the United States by 1989.
NJM was the first company to receive J.D. Power’s Personal Auto Claims Certification in 2018. [32] In 2019, J.D. Power ranked NJM Insurance Company among the best for overall satisfaction in its U.S. Auto Insurance Study. [33] In 2019, Forbes included NJM on its list of America’s Best Employers by State [34] and Best Midsize Employers. [35]
Insurance law and regulation is established individually by each state. In order to better coordinate insurance regulation among the states and territories, insurance commissioners are members of the National Association of Insurance Commissioners (NAIC).
The NAIC internal designation for the Annual Financial Reporting Model Regulation is MDL 205, where MDL stands for Model, and the number of the model rule is 205. [4] Because the regulation was issued by NAIC, which is not a federal agency with direct regulatory power, its adoption is on a state-by-state basis. [5]
Confirm the agent’s license: You can validate an insurance agent’s license by checking your state’s license database or utilizing the National Association of Insurance Commissioners’ (NAIC ...