What Is an NAIC Number? How Do You Find It?
Last Updated on November 18, 2022
The National Association of Insurance Commissioners (NAIC) is a US organization that sets standards and regulations for the insurance industry.
Each insurance company in the United States has an NAIC number. Some companies have multiple NAIC numbers – say, one number for each subsidiary organization or different numbers for different states.
Just like a Social Security Number (SSN), the NAIC number makes it easy to track certain information. You can use the NAIC number to check complaints about a specific company or view license information, for example.
Today, we’re explaining everything you need to know about the NAIC number and how to find it.
- What is an NAIC Number?
- How to Find an NAIC Number
- NAIC Numbers of Major Insurance Companies
- What Can You Learn with an NAIC Number?
- Why Are NAIC Numbers Important?
- About the NAIC
What Is an NAIC Number?
An NAIC number is a five-digit identifying number for a specific insurance company. The NAIC assigns a number to each insurance company in the United States.
The NAIC uses numbers to train, educate, and track insurance companies. The NAIC also uses numbers to track consumer complaints.
The NAIC number is also known as an NAIC code. Most insurance companies list this NAIC code on your insurance policy, on their website, and elsewhere. You can easily search for a number to learn more about a specific insurance company or view recent complaints about that insurance company.
How to Find an NAIC Number
You can easily find any company’s NAIC number at NAIC.org. The company has a database featuring thousands of insurance companies across the United States.
You can type a company name into that form, look up a company by its code, sort by type of insurance company, and perform other search functions.
Here’s How to Find Any Insurance Company’s NAIC Number:
- Step 1) Visit the NAIC number lookup database
- Step 2) Type the name of your insurance company into the form
- Step 3) Click the listing to learn more about that insurance company’s background, licensing, complaints, and history
Please note that some companies have multiple insurance numbers. A single company could have one NAIC number for its auto insurance division and another number for its home insurance division. Make sure you’re looking up the right number.
NAIC Numbers of Major Insurance Companies
As noted above, every company has a unique NAIC number to help people identify it. Below is a list of the NAIC numbers of the top auto insurance companies in the United States.
|Main Street America
What Can You Learn with an NAIC Number?
Using the NAIC.org database, you can learn crucial information about an insurance company. You might look up a company’s NAIC number before buying a policy, for example, to verify they have a strong financial picture, low numbers of consumer complaints, and valid licensing in your state.
Some of the Things You Can Learn From the NAIC.org Database Include the Following:
Headquarters & Mailing Address: Where is the insurance company headquartered? What is the insurance company’s mailing address? The NAIC.org database lists basic contact information for all insurance companies.
Official Website: Some companies have multiple insurance companies. The NAIC.org database shows the official registered website for that particular insurance company.
Types of Insurance Offered: The database shows the types of insurance sold by that company. Some companies only sell car insurance. Others sell aircraft, auto, commercial auto, earthquake, flood, and homeowners insurance, among other products.
States Licensed: The database shows the states in which the company is licensed to do business. Some companies are licensed in every state in the country, while others are more regional.
Complaint Code Report: View the number of complaints associated with that particular insurance company, including the number of people who have complained to state insurance regulators relative to the total number of policyholders.
Complaint Trends: Has the company recently improved its complaint index? Is the company getting worse or better? You can view the complaint trends over time through the NAIC database.
Financial Overview: Good insurance companies have a strong financial picture. Bad insurance companies have a weak financial picture. The NAIC database features a financial overview for each insurance company, letting you view the insurance company’s total assets, liabilities, capital and surplus, and other information. You can also view the net income of the company over the last few years, the number of liabilities in different sectors, and other information about the financial status of the insurer.
Licensing Report: The NAIC database has a detailed breakdown of where each insurance company does business, how each insurance company is licensed, and whether or not the insurance company is able to do business in your state. Some insurance companies are licensed to sell auto insurance in one state but not another, for example, but sell homeowners insurance nationwide.
Why Are NAIC Numbers Important?
NAIC numbers are important for all of the reasons listed above. You can view detailed information about each insurance company from an objective, unbiased source.
Every insurance company claims to protect you from unexpected events. But not all insurance companies live up to that promise. Some insurance companies go bankrupt, for example, leaving policyholders without coverage. By checking the financial picture as reported by the NAIC, you can ensure you’re working with a strong insurance company.
Crucial Advantages of NAIC Numbers Include the Following:
- Central repository of objective information for insurance companies across the United States
- Detailed information about each company’s financial status
- State-by-state licensing information for each insurance company
- Reputable complaint tracking
Insurance company review websites are complicated. Most people don’t take the time to review their insurer unless they’re upset about coverage.
With the NAIC complaint index, you get a better source of information about a company. If someone takes the time to complain to the NAIC, it means they are upset with the service. The NAIC complaint index shows the number of policyholders who complained compared to the number of policyholders overall, giving you an idea of how many policyholders were upset with coverage.
About the NAIC
The National Association of Insurance Commissioners sets standards and regulations for insurance companies across the United States. The organization plays a crucial role in the insurance system across all 50 states, the District of Columbia, and five territories.
The NAIC was founded in 1871 to help insurance companies coordinate services across multiple states. With each state setting its own insurance laws, it was becoming increasingly complicated for insurance companies to do business across state lines.
To solve these problems, state insurance commissioners banded together to create the National Insurance Convention. This became the National Convention of Insurance Commissioners, which later turned into the National Association of Insurance Commissioners.
The NAIC is headquartered in Kansas City, MO. They also have offices in New York and Washington. Some of the stated goals of the NAIC include the following:
- Protect the public interest
- Promote competitive insurance markets
- Facilitate the fair and equitable treatment of insurance policyholders
- Promote reliability, solvency, and financial stability of insurance companies
- Support and improve insurance regulatory systems at the state level
The NAIC is not a regulator; instead, the NAIC is a non-governmental organization that discusses and analyzes regulatory matters – although the organization does not actually enforce regulatory action.
The NAIC consists of the insurance commissioners of each state. These insurance commissioners are regulators. Each state’s insurance commissioner enforces insurance rules at a state level. While the NAIC can discuss insurance regulations and propose changes, the organization does not enforce regulatory action.
Final Word on NAIC Numbers
You can use the NAIC number to track insurance companies across the United States. Each company has an NAIC number. You can look up a company in the NAIC database to learn about the company’s complaints, financial picture, licensing, and more.
To learn more or check an NAIC number today, visit NAIC.org.