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What is a NAIC Number?

What is a NAIC Number?
NAIC number refers to the number issued by the National Association of Insurance Commissioners to licensed and affiliated insurance companies across the US. The NAIC is a body or organization that helps in the creation of similar or uniform policies across various insurance companies and organizations. Officials of the NAIC also set guidelines and rules that are fair for every affiliate insurance organization and for all policy holders. Fair competition is also promoted by the NAIC for all its member insurance companies. When a particular company has a NAIC number, it simply means that this insurance company is affiliated with the NAIC.

A particular insurance company usually issues an insurance card to every policy member or policy holder. And it is through this card that the NAIC number of the insurance company involved is reflected. But not all insurance cards may reflect the NAIC number of the insurance company. Or sometimes, it’s just difficult for policy holders to determine the actual NAIC number listed on his/her insurance card as many other numbers are reflected too. For those who need to get their NAIC number and can’t find it on their insurance cards, it may be best to contact the insurance company itself. Usually contact details of the insurance company involved is reflected on the insurance card. But this option to get the NAIC number is too much hassle for some people as they may hate being put on hold several times during a particular call to the insurance company’s customer service number. The last resort in retrieving the NAIC number would be through the internet. Using the search engines on the web, one may try to search the NAIC of the particular insurance company online.

Many people need the NAIC number for a variety of purposes. Some insurance companies require members and/or policy holders to provide the NAIC number when transacting with their offices. Some companies also ask for this number when policy holders process insurance renewals among other different transactions. Others require this number for verification purposes.

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Posted by Erwin Z on May 23rd, 2011 and filed under Business, Finance & Investing. You can follow any responses to this entry through the RSS 2.0. You can leave a response via following comment form or trackback to this entry from your site