Question

Who developed a rating system known as the Insurance Regulatory Information System (IRIS)?

a.

Standard and Poor

b.

NAIC

c.

A .M. Best

d.

Duff & Phelps

Answer: (b).NAIC Explanation:The National Association of Insurance Commissioners (NAIC), an insurance regulatory body in the United States, developed a rating system known as the Insurance Regulatory Information System (IRIS). The IRIS rating system is designed to provide an integrated approach to monitoring and analyzing the financial health of insurers and reinsurers. It allows regulators to assess the financial condition of insurance companies based on standardized financial ratios and indicators. The IRIS rating system helps regulators identify potential risks and take appropriate actions to ensure the stability and solvency of insurance companies operating in the United States.

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Q. Who developed a rating system known as the Insurance Regulatory Information System (IRIS)?

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