Full text of legislative history behind the Insurers Rehabilitation and Liquidation Model Act.
Guam Insurers Rehabilitation and Liquidation Model Act Legislative History
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US-AF02
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Introduction. Insurance is regulated by the states. This system of regulation stems from the McCarran-Ferguson Act of 1945, which describes state regulation and taxation of the industry as being in ?the public interest? and clearly gives it preeminence over federal law. Each state has its own set of statutes and rules.
Search NAIC In addition to information available through INSDATA, the NAIC maintains one of the world's largest insurance regulatory databases, and it is available to you. The NAIC performs validations and tolerance checks as the financial statements are loaded to our database for quality assurance.
The regulatory action level occurs if surplus falls below 150 percent of the RBC amount. The authorized control level occurs if surplus falls below 100 percent of the RBC amount.
The organization was created in 1871 to assist state insurance regulators, individually and collectively, in serving the public interest, by setting standards and regulatory best practices, acting as a forum to exchange information, providing regulatory support functions, and educating consumers, industry, and other ...
1871. The first meeting of the National Association of Insurance Commissioners (NAIC), formerly known as the National Convention of Insurance Commissioners (NCIC), was held in New York, NY.
An NAIC number is a 5-digit unique number used to identify insurance companies. This is set up at the state level. NAIC stands for (National Association of Insurance Commissioners). Most people are aware of needing an NAIC number when their registration needs to be renewed.
This model act provides for uniformity of coverage requirements for newborn and newly adopted children and children placed for adoption under both group and individual health benefit plans.
The organization was created in 1871 to assist state insurance regulators, individually and collectively, in serving the public interest, by setting standards and regulatory best practices, acting as a forum to exchange information, providing regulatory support functions, and educating consumers, industry, and other ...