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Additionally, the NAIC promulgates the NAIC annual statement which incorporates SAP and must be filed with the department of insurance in every state in which an insurance company writes business. The NAIC is not a regulator; while its members are the insurance commissioners (i.e., the chief insurance regulators) of each U.S. state and six ...
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.
The Insurance Regulatory Information System (IRIS) is a database of insurance companies in the United States run by the National Association of Insurance Commissioners. IRIS is designed to provide information about insurers' financial solvency .
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 ...
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).
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 ...
The North American Industry Classification System or NAICS (/ n eɪ k s /) [1] is a classification of business establishments by type of economic activity (the process of production). It is used by governments and business in Canada , Mexico , and the United States of America .