The U.S. National Association of Insurance Commissioners was founded in 1871.
The organization was created by state insurance regulators to coordinate oversight in a country where insurance regulation is primarily conducted by the states. It provides a forum for regulators to develop model laws, share information, and address issues affecting insurers operating across state lines.
The NAIC is not a federal insurance regulator and does not replace individual state departments of insurance. Instead, it supports state-based supervision and helps promote greater consistency among jurisdictions.
A common mix-up is treating the NAIC like a consumer insurer or a government agency that directly sells coverage. It does neither. Its work includes regulatory standards, financial information systems, consumer resources, and coordination among state and territorial regulators.