Life & Health · Chapter 1 · Regulation
NAIC (National Association of Insurance Commissioners)
Definition
A voluntary association of state insurance commissioners. It is not a regulator — it drafts model acts and model regulations that states may adopt, to encourage uniformity across states.
Exam tip
The NAIC recommends; only the STATES regulate. Any choice giving the NAIC enforcement or licensing power is wrong.
Easy to confuse with
These are what this term gets tested against — if you can't tell them apart cold, drill the contrast.
Related terms