Final answer:
The NAIC helps create model laws to encourage the standardization of insurance laws across different states, aiming to balance keeping insurance costs low and increasing accessibility.
Step-by-step explanation:
The National Association of Insurance Commissioners (NAIC) is involved in the creation of model laws for states to adopt, aimed at the standardization of insurance laws among different states. This effort promotes consistency and guidelines that states can follow to regulate the insurance industry effectively. The role of the NAIC is significant because it supports cooperation among state regulators to manage the complex regulatory landscape of the insurance sector while attempting to keep insurance prices low and increase the accessibility of insurance to the public.