Insurance Regulatory Information System
- Insurance Regulatory Information System
The Insurance Regulatory Information System (IRIS) is a database of Insurance companies in the United States run by the National Association of Insurance Commissioners. IRIS is designed to provide information about insurers' financial solvency.
Rating Method
IRIS uses the financial statements of the insurer to calculate a series of financial ratios, which are then taken as a measure of the insurer's overall financial condition. If the ratios do not fit into a predetermined range, then IRIS may identify the company for regulation by appropriate authorities.
The system acts as an early-warning protection, which aids state insurance departments to pick out those companies that show financial problems. The ratios are merely guidelines, though: often a financial disaster comes without warning, or defies prediction. ["Insurance Regulatory Information System (IRIS)" Ludhardt, C. M. & Wiening, E. A. (2005) Property and Liability Insurance Principles, 4th edition. ISBN 978-0-89463-249-3]
External links
* [http://www.naic.org/store_pub_fin_receivership.htm#iris_results IRIS on the NAIC website]
References
Wikimedia Foundation.
2010.
Look at other dictionaries:
Insurance Regulatory and Development Authority — The Insurance Regulatory and Development Authority (IRDA) is a national agency of the Government of India, based in Hyderabad. It was formed by an act of Indian Parliament known as IRDA Act 1999, which was amended in 2002 to incorporate some… … Wikipedia
Insurance in the United States — refers to the market for risk in the United States of America. Some main features of insurance could be said to be, *the benefit provided by a particular kind of indemnity contract, called an insurance policy; *that is issued by one of several… … Wikipedia
China Insurance Regulatory Commission — CIRC redirects here. For other uses, see CIRC (disambiguation). China Insurance Regulatory Commission 中国保险监督管理委员会 Agency overview Formed 1998 Jurisdiction National Headquarters Beijing Agency ex … Wikipedia
Information security — Components: or qualities, i.e., Confidentiality, Integrity and Availability (CIA). Information Systems are decomposed in three main portions, hardware, software and communications with the purpose to identify and apply information security… … Wikipedia
National Association of Insurance Commissioners — The National Association of Insurance Commissioners (NAIC) is an Internal Revenue Code Section 501(c)(3) non profit organization which seeks to organize the regulatory and supervisory efforts of the various state insurance commissioners from… … Wikipedia
Insurance — This article is about risk management. For Insurance (blackjack), see Blackjack. For Insurance run (baseball), see Insurance run. In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a… … Wikipedia
insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… … Universalium
Regulatory capture — In economics, regulatory capture occurs when a state regulatory agency created to act in the public interest instead advances the commercial or special interests that dominate the industry or sector it is charged with regulating. Regulatory… … Wikipedia
Chinese financial system — Beijing Financial Street, the economic centre of Beijing. China s financial system is highly regulated and has recently begun to expand rapidly as monetary policy becomes integral to its overall economic policy. As a result, banks are becoming… … Wikipedia
China Securities Regulatory Commission — CSRC redirects here. For other uses, see CSRC (disambiguation). China Securities Regulatory Commission 中国证券监督管理委员会 Agency overview Formed 1992 Jurisdiction People s Republic of China Headquarters … Wikipedia
