What is the NAIC database?
Asked by: Concepcion Bergstrom | Last update: September 28, 2025Score: 4.2/5 (55 votes)
What is the NAIC and what is its purpose?
What is the NAIC and what does it do? The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia, and five U.S. territories.
What is the database used by insurance companies?
This claims information service is traditionally called the “Index System” (or “Index Database”) and is used by most insurance companies to secure the claims history of every claimant.
What is the purpose of the NAIC's insurance data security law?
This Act shall be known and may be cited as the “Insurance Data Security Law.” A. The purpose and intent of this Act is to establish standards for data security and standards for the investigation of and notification to the Commissioner of a Cybersecurity Event applicable to Licensees, as defined in Section 3.
How do I find my NAIC code for insurance?
Your insurance provider's NAIC number should be on your insurance card. 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.
MAXIMIZE Your Business FUNDING: Top NAICS Codes for 2024
How do I get a NAIC code?
To find and assign a NAICS code, start by identifying your primary business activity. Visit the official NAICS website and use the search function to enter keywords related to your business. You can search for your business NAICS code by entering keywords or the 2-6 digit code.
How do I find a company's NAIC number?
To identify the NAICS Code being used for a specific company, visit the US Company Lookup Tool by NAICS.com.
What is the responsibility of NAIC?
The National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers.
What states have adopted the NAIC model?
- Alaska, adopted February 1, 2024.
- Connecticut, adopted February 26, 2024.
- Illinois, adopted March 13, 2024.
- Kentucky, adopted April 16, 2024.
- Maryland, adopted April 22, 2024.
- Nevada, adopted February 23, 20224.
What is the purpose of the NAIC code?
The North American Industry Classification System (NAICS) is the standard used by Federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy.
Can other insurance companies see your claims?
Every insurer scopes out your recent claims history as well as the claims history for the home when you switch insurance companies or purchase a new policy. This helps them price your policy. You should note, however, that not every insurer looks through your entire claims history.
Which database is mostly used by companies?
The most common type of databases in organizations is the Relational Database Management System (RDBMS). Examples of RDBMS include MySQL, PostgreSQL, Microsoft SQL Server, Oracle Database, and IBM Db2.
Do insurance companies use LexisNexis?
Examples of LexisNexis customers include law enforcement agencies, federal homeland security departments, banking and financial services companies and insurance carriers, legal professionals, and state and local governments.
What is NAIC known for?
With a rich history and stunning natural attractions such as Naic Cathedral, Balay Aguinaldo, and Ternate Beach, Naic is an unmissable destination in the Philippines. Explore the natural beauty of Naic Forest and Tagaytay Picnic Grove, and learn more about Philippine history at Balay Aguinaldo.
Who does the NAIC regulate?
The NAIC is not a regulator; while its members are the insurance commissioners (i.e., the chief insurance regulators) of each U.S. state and six territories, the NAIC is a non-governmental organization that concerns itself with insurance regulatory matters but does not actually regulate.
What is twisting in insurance?
Twisting is also called external replacement and is the practice of inducing a person to drop existing insurance to buy similar coverage with another producer or company. Replacing existing life insurance with a new life insurance policy based upon incomplete or incorrect representation is called twisting.
What does NAIC apply to?
NAIC helps consumers evaluate their options and provides basic information on the major types of insurance: life, health, auto and homeowners/renter's insurance.
What are NAIC guidelines?
The NAIC model laws and guidelines are proposed statements of insurance regulation for all 50 states as well as the other jurisdictions such as D.C. or Guam. Once a model law is passed, states can choose to adhere to it fully, with modifications, or not at all.
What states have the all payer model agreement?
- Cohort 1: Maryland and Vermont.
- Cohort 2: Connecticut and Hawaii.
- Cohort 3: New York (in five downstate counties: Bronx, Kings, Queens, Richmond, and Westchester) and Rhode Island.
What are the 4 objectives of NAIC?
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.
What is churning in insurance?
Churning is when a producer replaces a client's coverage with one from the same carrier that has similar or worse benefits. Twisting in insurance is when a producer replaces a client's contract with similar or worse benefits from a different carrier.
What does the NAIC oppose?
Briefings for Congress
The NAIC opposes legislation that would expand the scope of the Liability Risk Retention Act of 1986 (LRRA) to allow Risk Retention Groups (RRGs) to write commercial property insurance for non-profits.
Who needs an NAIC number?
The NAIC number is a unique five-digit identification code associated with an insurer and carries data on their finances, complaints, and more. An NAIC number is issued to every authorized insurance company operating in America to streamline claims.
How to look up someone's insurance information online for free?
Due to privacy and regulation laws, it's generally not possible to find someone's insurance information online. If you need to obtain another party's insurance after an accident, contact your state's DMV or your insurance company.