NAIC-NCCI

US insurance regulators and standardisers.

Definition

NAIC publishes Statutory Accounting Principles (SAP), model laws, and coordinates the Insurance Regulatory Information System (IRIS). NCCI publishes classifications (~700 codes per state), loss costs and the Workers Compensation Statistical Plan. NCCI uses EDI standards such as NCCI Carrier Data Capture (UCC).

Origin

NAIC founded in 1871 ; NCCI founded in 1923.

Example in context

An insurer files annually a Statutory Annual Statement to NAIC via SAP.

Related terms

• NCCI WCRA — WC EDI standard.