A federally chartered agency that may come into existence pursuant to the Gramm-Leach-Bliley Act in the event a majority of states (through the NAIC) fail to pass uniform (agent/broker) licensing or reciprocity laws by November 2002.
Tag: RAW
National Carrier
A flag carried owned or controlled by the Government/State.
National Council on Compensation Insurance (NCCI)
National association that collects, tabulates, and provides data used in formulating rates for workers compensation insurance.
National Flood Insurance Program (NFIP)
A federally funded program established in 1968 to make flood insurance available at a reasonable cost for properties located in participating communities. NFIP flood insurance is available only for direct damage to buildings and contents; there is no time element coverage.
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A federal program through which persons with property located in predefined flood plains can obtain flood coverage. See Flood insurance.
National health insurance (Health Insurance)
A system of insurance benefits established by a federal government to cover all or almost all of the citizens of the country. These systems are entirely or partially funded with tax money. The United States is developing a program like this.
National Health Service (NHS) Cash Benefit
A benefit payable in cash to a person insured under a private medical insurance, who is treated in the public ward of an NHS hospital. The cover applies if a medical specialist recommends particular hospital treatment covered by the policy.
National Highways Authority of India (NHAI)
The NHAI was created through the promulgation of the National Highways Authority of India Act, 1988. In February 1995, the Authority was formally made an autonomous body. It is responsible for the development, maintenance, management and operation of National Highways, totaling over 92,851.05 km (57,694.97 mi) in length. The NHAI is also responsible of the toll collection on several highways.
National insurance
Part of the UK social security ystem providing benefits in various forms, i.e., sickness, industrial injury, unemployment, pensions, maternity and death. Apart from contracting out provisions participation is compulsory for designated categories of people. The rates of contribution vary according to class but are standard within each class. Contributions are deducted from earnings in the case of employees whose employers also contribute.
National Insurance Academy (NIA)
NIA was established in 1980 jointly by the Ministry of Finance-Government of India, Life Insurance Corporation of India, General Insurance Corporation of India, The New India Assurance Company, National Insurance Company, United India Insurance Company and The Oriental Insurance Company on 16th December, 1980 in Mumbai to be the institute of excellence in learning and research in Insurance, Pension and allied areas. The Academy was shifted to Pune on 4th June, 1990 with the state-of-the-art facilities for learning and research. Initial years of NIA were dedicated to Management Development Programmes catering to the insurance industry professionals to enhance the management skills and domain expertise. Later, the two year Post Graduate Diploma in Management course was initiated to fulfill the growing demand of skilled professionals in Insurance and Risk Management. National Insurance Academy (NIA) is a premier institution devoted to equip the insurance industry with the best of talents. Its close association with the Insurance industry provides the ‘real life’ reference to its training, education, research and consultancy activities.
National Insurance Crime Bureau (NICB)
Non-profit organization dedicated to investigating insurance fraud and crime. Works with insurance carriers, law enforcement agencies and representatives of the public to prevent and fight insurance fraud and crime.