NAIC / NCCI
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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.