This glossary is for non-commercial educational purposes only. The
definition of the
terminology below is only a brief description and should not be considered factual or
the only definition possible. This information is only to help better inform you
of information related to liquidations.
National Association of Insurance Commissioners (NAIC)
The association of insurance commissioners of various states formed to promote national uniformity in the regulation and practice of insurance.
National Conference of Insurance Guaranty Funds (NCIGF)
A nonprofit organization created to provide national assistance and support to the property and casualty guaranty funds located in each of the 50 states, plus Puerto Rico and the District of Columbia. The NCIGF monitors national insurance activities and coordinates information for multi-state insolvencies. NCIGF
National Organization of Life and Health Insurance Guaranty Associations (NOLHGA)
A voluntary association composed of the life and health insurance guaranty associations of all 50 states, Puerto Rico and the District of Columbia. When a life and health insurance company insolvency involves multiple states, NOLHGA assists its state guaranty association members in quickly fulfilling their statutory obligations to policyholders. NOLHGA
Non-admitted Assets
Assets of an insurer that are not permitted by insurance regulatory authorities to be taken into account in determining the insurer's financial condition under statutory accounting practices.
Non-Contracted Provider
See Non-Participating Provider
Non-Participating Provider
A health care provider who does not participate through a contractual arrangement with a health care service contractor, HMO, PPO, IPA or other managed care organization.
