Insurance Regulatory Information System (IRIS)

Insurance Regulatory Information System (IRIS),

What Does Insurance Regulatory Information System (IRIS) Mean?

A mechanism developed by the National Association of Insurance Commissions (NAEC) to help states monitor the financial health of insurers. The IRIS matrix is ​​a set of matrix designed to measure solvency and liquidity. They are calculated from the annual profits of the insurance company registered with NAIC, and the insurers who fail one or more tests can be monitored by their local regulatory agency.

Insurance Regulatory Information System (IRIS) means, The Insurance Regulatory Information System (IRIS) is a mechanism developed by the National Association of Insurance Commissioners (NAIC) to help states assess the financial health of insurers. Regulatory authorities primarily oversee insurance companies to ensure that they do not go bankrupt and that is why so many people lose out on insurance coverage.

You can define Insurance Regulatory Information System (IRIS) as, Introduced by the National Association of Insurance Commissioners in 1974 to identify insurance companies that may require more regular review.

A solvency monitoring system for insurance commissioners (National Association of Insurance Commissioners) and state insurance regulators that was introduced in the mid-1970s.

Literal Meanings of Insurance Regulatory Information System (IRIS)

Insurance:

Meanings of Insurance:
  1. The process or arrangement under which a company or government agency guarantees certain damages, injuries, illnesses or deaths in exchange for premium payments.

  2. Anything that provides protection against possible emergencies.

Sentences of Insurance
  1. Adherence to high standards of personal conduct is the best protection against personal problems.

Synonyms of Insurance

safeguard, indemnity, immunity, indemnification, safety measure, protection, security, surety, defence, precaution, preventive measure, cover, shelter, provision, financial protection

Regulatory:

Meanings of Regulatory:
  1. Serving or arranging something.

Sentences of Regulatory
  1. Current legal and regulatory framework

Synonyms of Regulatory

executive, management, governmental, directorial, directing, controlling, organizational, managerial, regulatory, supervisory

Information:

Meanings of Information:
  1. Learned about a fact or something else.

  2. What is delivered or represented by a particular arrangement or arrangement of things

Sentences of Information
  1. Genetic transmission information

Synonyms of Information

details, facts, figures, statistics, particulars, data

System:

Meanings of System:
  1. A set of things that work together as part of a connection mechanism or network.

  2. A set of principles or methods by which something is done in an organized structure or method.

  3. The prevailing political or social system, especially when seen as oppressive and compromising.

  4. A set of sticks in a sheet of music that included a belt.

Sentences of System
  1. Rural railway system

  2. Multilateral system of government

  3. Don't try to ignore the system

Synonyms of System

technique, procedure, means, attack, methodology, structure, order, the establishment, apparatus, the regime, the powers that be, line of attack, line of action, network, approach, bureaucracy, the authorities, modus operandi, organization, line, method, process, framework, practice, complex

IRIS:

Meanings of IRIS:
  1. (Aperture, usually spectacles) Ore or iris opens or closes like a diaphragm.

  2. Behind the cornea of ​​the eye is a flat, multi-colored, color-shaped membrane with an adjustable circular opening (pupil) in the center.

  3. A plant with sword-shaped leaves and prominent flowers that are usually purple, yellow, or white. It is native to Eurasia and North America and is often cultivated as an ornamental.

  4. The rainbow goddess, who acts as the messenger of the gods.

Sentences of IRIS
  1. Ann raised her arm and pointed to the belly of the helmet: a round, shiny hole that shone from the inside.

  2. In Irish, the thin layer of circular muscle that restricts the pupils of the eye is also known as the sphincter.

  3. The journalist loved a variety of flowers and shared his interests among roses, lilies, roses and plants from California.