What organization is responsible for coordinating financial audits of insurance companies?

The National Association of Insurance Commissioners (NAIC) is the correct choice because it is a collective organization of state insurance regulators in the United States. One of the NAIC's key functions is to create standards for insurance company financial practices and regulatory compliance. It plays a crucial role in coordinating financial audits of insurance companies through the development of regulatory frameworks and best practices that state regulators can adopt.

By establishing accounting and financial reporting standards, the NAIC helps ensure that insurance companies operate transparently and maintain their financial solvency. This oversight is critical for protecting policyholders and maintaining the integrity of the insurance market. The NAIC’s impact is further solidified through its influence on state-level regulations and its comprehensive database, which tracks financial performance across different companies.