What is naic number insurance

NAIC is the U. We assist state insurance regulators, individually and collectively, in serving the public interest. Driven by our members and their mission, we protect consumers and ensure fair, competitive, and healthy insurance markets. By setting standards and best practices, conducting peer reviews, providing regulatory support functions, and coordinating regulatory oversight, we help support compliant and informed decisions.

By providing business intelligence, analytics, and reports for regulatory oversight functions, our efforts help make the U. Through an agile, state-based system, we provide unique, dedicated, and unparalleled support for regulators and consumers from the 50 states, the District of Columbia and five U. Tentative agenda available. Registration is now open. Spring National Meeting. Kansas City, MO. International Insurance Forum. Summer National Meeting.

Portland, OR. Consumers can look for information on health insurance, auto insurance, life insurance, flood insurance, homeowners insurance and more. The NAIC site also provides a place to file a complaint against an insurance carrier. If someone has an issue with their insurance company, the NAIC is the organization to contact.

Because of the NAIC, consumers can rest assured that the same regulations and policies apply to all insurance companies no matter where they are located. NAIC codes make it easy to look up an insurance company, find closed complaints, any fraud or actions taken against the company and company financial data. September 2, Laura Adams.

April 21, Shannon Ireland. What is NAIC? The NAIC is made up of various committees and working parties, with the goals to: Protect the public interest Promote competitive markets Facilitate the fair and equitable treatment of insurance consumers Promote the reliability, solvency and financial solidity of insurance institutions Support and improve state regulation of insurance. Because insurance companies offer many types of products homeowners insurance, auto insurance, life insurance, etc.

NAIC codes make it easy for consumers to look up complaints about a company and submit complaints themselves. NAIC numbers also help consumers look up where a company is strong for example, auto insurance , and where it might need some work for example, homeowners insurance.

The NAIC records each complaint into a database for each individual insurance company. The NAIC then generates a score for each company which is based on the number of complaints it has received.

This score is meant to show what percentage of customers have made a complaint against a particular company. Therefore, the higher the percentage, the less customer-friendly the company is said to be. Here you can:. The number may not have NAIC printed near it. If not, look for a five-digit number. The five-digit number should be the NAIC number. This number will also be on your insurance declaration page. You should also be able to easily find the number online.

Type your insurance provider, followed by the type of policy you have with the provider, followed by NAIC number. It ultimately serves U. How We Make Money. Lauren Ward. Written by. Lauren Ward has nearly 10 years of experience in writing for insurance domains such as Bankrate, The Simple Dollar, and Reviews. She covers auto, homeowners, and life …. Edited By Aylea Wilkins.

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