Definitions for "Insurance Regulatory Information System"
A system established and operated by the National Association of Insurance Commissioners (NAIC) in the United States to monitor the financial condition of insurers for the purposes of detecting financial distress and preventing insolvency.
Uses financial ratios to measure insurers' financial strength. Developed by the National Association of Insurance Commissioners. Each individual state insurance department chooses how to use IRIS.
In the United States, an information system developed by the NAIC to help state regulatory agencies assess the financial stability of individual insurance companies by means of a series of ratios derived from the companies' statutory annual statements. | Back