how the national association of insurance commissioners works
the naic is headquartered in kansas city mo with executive offices in washington d c 3 the group says its regulatory goals are to through committees task forces and working groups the naic develops model laws and regulations to help standardize insurance across the states its standing committees include life insurance and annuities health insurance and managed care property and casualty insurance market regulation and consumer affairs the financial condition of insurers financial regulation standards and accreditation and international insurance relations 4the naic and its committees normally meet three times a year these meetings are generally open to the public 5the naic also offers education and training courses for insurance regulators in 2006 it launched the insurance regulator professional designation program and awarded its first professional designation the following year 6the naic website has a variety of resources consumers can use to learn about insurance products and check out complaint data on specific companies the naic and consumer complaintsin addition to its work in support of state insurance regulators the naic offers a number of tools for consumers its consumer insurance search tool helps consumers research specific insurance companies including any complaint data the naic has collected companies are scored on a national complaint index which shows whether they ve received more or fewer complaints than other insurers after adjusting for market share according to the naic s most recent aggregated data from state insurance departments the majority of complaints in 2021 involved how an insurer handled policyholders claims with unsatisfactory settlements or offers delayed claims and denied claims collectively accounting for just over 50 of all complaints other types of complaints though much lower on the list in terms of percentages included high pressure sales tactics misleading advertising and discrimination 7for consumers who would like to register a complaint of their own the naic website also has a file a complaint tool with links to state insurance departments for further information on the process along with those consumer resources the naic website offers basic information on life health homeowners automobile and several other types of insurance it also has a life insurance policy locator tool which consumers can use to request information on whether a deceased relative left behind an unclaimed policy the naic should not be confused with groups with similar acronyms the national association of investors corp or the north american industry classification system 