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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.
With the first version, released in 1997, NAICS offered enhanced service sector coverage relative to the SIC. The 2002 revision accommodated significant changes in the Information Sector. The 2012 revision slightly reduced the number of industries and modified six sectors. [5]
In the United States, the SIC system was last revised in 1987 and was last used by the Census Bureau for the 1992 Economic Census, and has been replaced by the North American Industry Classification System (NAICS code), which was released in 1997. [2]
The use of price optimization in insurance ratemaking (referencing 2015 NAIC white paper), Connecticut General Assembly. Accessed January 21, 2025. Accessed January 21, 2025.
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 ...
CAGE codes are all five characters in length. [3] There is no meaning encoded in the code itself, other than the underlying NCB; it is simply a unique identifier. [4] The Code Chart provided by the NATO AC/135 committee (the group of National Directors on Codification) provides the syntax of CAGE codes in various countries.
NAICS sector 11 (abbreviated to NAICS 11) is a sub-classification of economic activity that covers agriculture, forestry, fishing and hunting in the North American Industry Classification System (NAICS) system in Canada, the United States and Mexico.
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). [2]