National Association of Insurance Commissioners

The National Association of Insurance Commissioners (NAIC), founded in 1871 and headquartered in Kansas City, Missouri, is the standard-setting and regulatory support organization created and governed by the chief insurance regulators of the fifty American states, the District of Columbia and five United States territories. Though it explicitly describes itself as not a regulator, since its members individually hold that regulatory authority, it provides a forum where state insurance regulators establish standards and best practices, conduct peer review and coordinate regulatory oversight, drafts model laws and regulations that states may adopt and adapt, and develops the statutory accounting principles that underlie insurance accounting and the annual statements insurers file in every state where they operate.