Insurer appetite in Ask Kodiak is based on North American Industry Classification System Codes (NAICS). NAICS is the replacement for Standard Industrial Classification (SIC) and was first introduced in 1997. A collaborative effort by United States Office of Management and Budget (OMB), Statistics Canada, and Mexico's Instituto Nacional de Estadística y Geografía (INEGI), NAICS codes are updated every five years to reflect changes in the economy.
It is Ask Kodiak's intention to stay current with NAICS so that insurers can adequately express appetite for new types of business as they emerge and are added to NAICS, and this documentation is the product of our efforts to analyze and model the 2022 NAICS edition.
This guide is intended for anyone looking to learn more about the nature of the 2022 NAICS update with specific regard to changes in 2-6 digit groups and HD codes since the 2017 edition.