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Term Definition
NAA National Association of Accountants
NAAQS national ambient air quality standard
NAFTA North American Free Trade Agreement
NAIC National Association of Insurance Commissioners
NAICS North American Industry Classification System
NAMED PERIL Peril specifically mentioned as covered in an insurance policy.

Federal government-sponsored program under which flood insurance is sold to homeowners and businesses. (See Adverse selection, Flood insurance)

NBC nuclear, biological, chemical weapons
NCFC noncontrolled foreign corporation
NET PREMIUMS WRITTEN See Premiums written
NFIP National Flood Insurance Program
NFIRA National Flood Reform Act
NFPA National Fire Protection Association
NHCAA National Health Care Anti-Fraud Association
NHI National Health Insurance
NHTSA National Highway Traffic Safety Administration
NIPA National Institute of Pension Administrators
NIRP National Insurance Risk Profile
NISS National Independent Statistical Service

Auto insurance coverage that pays for each drivers own injuries, regardless of who caused the accident. No-fault varies from state to state. It also refers to an auto liability insurance system that restricts lawsuits to serious cases. Such policies are designed to promote faster reimbursement and to reduce litigation.

NO-FAULT MEDICAL A type of accident coverage in homeowners policies.

The idea that people who do not buy coverage should not receive benefits. Prohibits uninsured drivers from collecting damages from insured drivers. In most states with this law, uninsured drivers may not sue for noneconomic damages such as pain and suffering. In other states, uninsured drivers are required to pay the equivalent of a large deductible ($10,000) before they can sue for property damages and another large deductible before they can sue for bodily harm.

NOA naturally occurring asbestos
NOC not otherwise classified
NOL not officially lapsed

Assets that are not included on the balance sheet of an insurance company, including furniture, fixtures, past-due accounts receivable, and agents debt balances. (See Assets)

NON-ADMITTED INSURER Insurers licensed in some states, but not others. States where an insurer is not licensed call that insurer non-admitted. They sell coverage that is unavailable from licensed insurers within the state.

A written notice required by insurance companies immediately after an accident or other loss. Part of the standard provisions defining a policyholders responsibilities after a loss.

NP named perils
NPD no payroll division
NPDB National Practitioner Data Bank
NPL National Priority List
NPV net present value
NRC Nuclear Regulatory Commission
NRRA National Risk Retention Association
NRT National Response Team
NSC National Safety Council
NSIPA National Society of Insurance Premium Auditors
NSLI National Service Life Insurance
NSP net single premium
NSPS New Source Performance Standards
NTSB National Transportation Safety Board
NUCLEAR INSURANCE Covers operators of nuclear reactors and other facilities for liability and property damage in the case of a nuclear accident and involves both private insurers and the federal government.

A form of long-term care policy that covers a policyholders stay in a nursing facility.

NVD no value declared

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