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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.
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.
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 .
While most insurance commissioners are appointed, in some jurisdictions they are elected. [1] The office of the insurance commissioner may be part of a larger regulatory agency, or an autonomous department. Insurance law and regulation is established individually by each state.
In 1752, Benjamin Franklin founded the first American insurance company as Philadelphia Contributionship.In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail.
The agency moved from its previous office at 841 Silver Lake Blvd in Dover, Delaware to its current office at 1351 West North Street in Denver in 2019. [2]In 2022, the Department of Insurance released a study in conjunction with the Consumer Federation of America (CFA) that found that some auto insurance companies charge women up to 21% more in premium costs compared to men. [3]
The average air ambulance trip is 52 miles (84 kilometers) and costs between $12,000 and $25,000 per flight, according to the National Association of Insurance Commissioners. The medical condition of the patient and the staff on board can influence the price.
Website www.insurance.ca.gov The California Department of Insurance ( CDI ), established in 1868, is the agency charged with overseeing insurance regulations, enforcing statutes mandating consumer protections , educating consumers, and fostering the stability of insurance markets in California .