What does IRIS mean? Read on to discover the definition & meaning of the term IRIS - to help you better understand the language used in insurance policies.
The Insurance Regulatory Information System (IRIS) is a mechanism the National Association of Insurance Commissioners (NAIC) developed to help states assess the financial condition of insurance companies. Regulators primarily use it to keep tabs on insurance companies to make sure they are not in danger of becoming insolvent and thus cause large numbers of people to lose insurance coverage.
We hope the you have a better understanding of the meaning of IRIS.