WHAT IS A RATING ORGANIZATION?

A rating organization receives and analyzes and interprets data (statistical data, past and present loss experience, catastrophe hazards, insurer expenses and other outlays) and determines a rating system (manual of risk classifications, rules and rates, and rating plan) applicable to a type of insurance.  Insurers that are members of a rating organization must use the rating organization's rating system as their own except that an insurer may file a "deviation," which is either a uniform percentage increase or decrease to the rating system, or changes from the rate rule established for a classification of risk to reflect the risk profile for a more specific subcategory of risk.

Warning - Phishing Scam

We are aware of a phishing scam targeting insurance professionals claiming that the National Association of Insurance Commissioners received a complaint that the professional submitted a falsified claim. This fraudulent email displays the NAIC and CIPR logos, can originate from what appears to be an naic.org or gmail.com email account, and instructs the recipient to click on a link to download the complaint notification.

Certain antivirus products will detect this as a malicious email.  If you receive a similar email and have any concerns, contact the NAIC Service Desk at (816) 783-8500 or [email protected].