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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 insurers report must be in conformity with statutory accounting practices of the Department of Insurance of the insurers’ state. [6] §5(G) The financial reports must be comparative, that is, to show the most recent year end against the preceding year end. For example, in a financial report for the year ending December 31, 2013, for each ...
The typical U.S. insurance policy will jump 22% this year to an average annual premium of $2,469 by year-end, the report found. That comes after drivers saw their policies jump 24% in 2023, it noted.
The statutory accounting principles are a set of accounting rules for insurance companies set forth by the National Association of Insurance Commissioners in the United States. They are used to prepare the statutory financial statements of insurance companies.
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.
Operation Jump Start was a military operation to aid U.S. Customs and Border Protection, announced by President George W. Bush in May 2006. The mission entailed the deployment of United States National Guard troops along the Mexico–United States border for purposes of enforcement of border security and construction of a border fence.
While the high-level Risk Management and Own Risk and Solvency Assessment Model Act (#505) has been adopted by the NAIC in September 2012, the NAIC ORSA Guidance Manual is being revised in early 2013. The State legislative process is still ongoing, but we can anticipate the regulation to be fully in place in 2015.