What does NAIC mean? Read on to discover the definition & meaning of the term NAIC - to help you better understand the language used in insurance policies.
The National Association of Insurance Commissioners (NAIC) is the national organization comprised of all the insurance commissioners of the 56 states and territories of the United States. The NAIC is the professional body that establishes the operating standards and best practices for the entire insurance industry for possible adoption and implementation at the state or territory regulators' level. As a unified regulatory organization, the NAIC has successfully implemented uniform financial reporting and has evolved into a dynamic, multidimensional support organization.
We hope the you have a better understanding of the meaning of NAIC.