Insurance companies operating in Florida are assigned a 5 digit code known as a National Association of Insurance Commissioners (NAIC) company code. This code is used to identify and track insurance companies for regulatory purposes. Knowing a company’s 5 digit code can be useful when searching public records, filing claims, and validating licensure.
What is a NAIC Company Code?
NAIC stands for the National Association of Insurance Commissioners. This organization oversees the regulation of insurance companies in the United States.
Each insurance company licensed to operate in a state is assigned a unique 5 digit NAIC company code. This code stays with the company if they operate in multiple states.
Some key facts about NAIC company codes:
- 5 digits long – ranges from 00000 to 99999
- Assigned alphabetically
- Stays with the company even if the name changes
- Used by regulators to identify and track companies
- Not the same as the company’s tax ID number
In Florida, the Office of Insurance Regulation maintains a public database of licensed companies and their NAIC codes.
Why Do Insurance Companies Have NAIC Codes?
NAIC codes serve a few important purposes:
Unique Identifier – The 5 digit code provides a unique ID to distinguish between companies, even those with similar names.
Consistency – The code stays with the company, so regulators can track insurance groups as they change names or merge.
Filing Insurance Reports – NAIC codes are used when insurance companies submit financial reports. This allows data to be aggregated and analyzed.
Public Records – State insurance departments include NAIC codes in public licensing and enforcement records. This provides transparency.
Claims Processing – Insurance companies may use NAIC codes on claims forms or related documents.
Overall, the NAIC code creates a standardized system for tracking and identifying insurance companies across states. This benefits both regulators and consumers.
How to Find a Company’s NAIC Code
The NAIC code for insurance companies licensed in Florida can be looked up using public records:
Florida Office of Insurance Regulation (OIR) – The OIR provides an online database of licensed companies, including NAIC code.
NAIC Website – The NAIC has a free search tool to look up codes of all U.S. companies.
Company Website – Some insurance companies list their NAIC code on their website or paperwork.
Contact the Company – You can call a company’s customer service line to inquire about their NAIC code.
Searching the OIR license database or NAIC website will provide the most reliable source. Company websites or documents may also display the code.
Examples of Major Insurance Company NAIC Codes in Florida
Here are some examples of large insurers licensed in Florida and their 5 digit NAIC codes:
- Allstate – 19232
- Geico – 37201
- Progressive – 18058
- State Farm – 25178
- Travelers – 25658
- USAA – 25791
These are just a few of the many companies operating in Florida. Again, the full list can be found using the OIR or NAIC lookup tools.
When to Use a NAIC Insurance Company Code
There are a few situations where you may need or want to look up an insurer’s NAIC company code:
Filing an insurance claim – The NAIC code may be required on claim forms.
Researching a company’s complaint record – Regulatory databases use the NAIC code.
Validating an agent’s license – Agent licenses include the NAIC codes of represented insurers.
Reviewing a company’s financial strength rating – Rating agencies identify companies by NAIC code.
Looking up enforcement actions – Regulatory actions and fines are searchable by NAIC code.
Comparing quotes – NAIC codes can help match up quotes from subsidiaries or name variations.
Having the NAIC code can provide usefulness in these situations. It provides an standardized identifier to cut through confusion caused by similar names or company license changes.
NAIC Codes for Different Insurance Lines
NAIC codes are assigned to property & casualty insurers, life & health insurers, and other types of insurance companies.
Here are some tips for looking up codes based on the insurance line:
Property & Casualty – These include auto, home, renters, business, and other similar policies. The NAIC codes can be searched on the OIR website or NAIC consumer tool.
Life & Health – For life insurers and health policies, use the NAIC consumer lookup. Florida maintains a separate life & health company database.
Other – Specialty lines like title insurance and travel insurance have NAIC codes. Check the licensing databases.
Surplus Lines – Non-admitted insurers have an NAIC code. Use the Florida Surplus Lines search to find their code.
Reach out to the OIR or NAIC if you need clarification on finding codes for a particular line of insurance.
Frequently Asked Questions
How do I find my insurance company’s NAIC code?
You can look up your insurer’s NAIC code using the Florida OIR license search or NAIC consumer lookup tool. Many company websites also list the code.
What is the difference between an NAIC code and a tax ID number?
An NAIC code specifically identifies the insurance company for regulatory purposes. A tax ID number is used for IRS tax filings and is different than the NAIC code.
Does a company have the same NAIC code in every state?
Yes, the NAIC code sticks with an insurance company even as they are licensed across multiple states. The code does not change.
Can an insurance company change their NAIC code?
No, NAIC codes remain permanently assigned to an insurance company. The code would only change if a company was legally acquired by another insurer.
How can I use NAIC codes when comparing insurance quotes?
When comparing quotes, NAIC codes can help you identify if subsidiaries or name variations are from the same parent insurance company. This allows you to compare accurately.
The Bottom Line
NAIC codes are unique 5 digit identifiers assigned to insurance providers operating in Florida and other states. These codes can be useful for regulatory lookups, claims processing, and identifying companies. Referencing public records from the Florida OIR or NAIC is the best way to find an insurer’s official NAIC company code. Keeping these codes handy helps cut through confusion caused by companies changing names, merging, or licensing subsidiaries.
