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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 IIABA has spent more than $1 million in 2010 in lobbying efforts on federal crop insurance, insurance licensing reform, and other insurance issues. [2]The IIABA supported the National Association of Registered Agents and Brokers Reform Act of 2013 (H.R. 1155; 113th Congress), a bill which would reduce the regulatory costs of complying with multiple states' requirements for insurance ...
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).
Using the NAIC Life Policy Locator, you can submit a request with the legal name, date of birth, Social Security number and date of death for the deceased person to find a life insurance policy or ...
Confirm the agent’s license: You can validate an insurance agent’s license by checking your state’s license database or utilizing the National Association of Insurance Commissioners’ (NAIC ...
In 1820, there were 17 stock life insurance companies in the state of New York, many of which would subsequently fail. Between 1870 and 1872, 33 US life insurance companies failed, in part fueled by bad practices and incidents such as the Great Chicago Fire of 1871. 3,800 property-liability and 2,270 life insurance companies were operating in ...
To further complicate things, there are different types of agents. A captive insurance agent works exclusively with one insurer, selling only that company’s products (e.g., a State Farm agent ...
Erie Insurance Group, based in Erie, Pennsylvania, is a property and casualty insurance company offering auto, home, business and life insurance through a network of independent insurance agents. As of 2021 [update] , Erie Insurance Group is ranked 347th on the 2021 Fortune 500 list of largest American corporations, based on total revenue for ...