The Commissioner sets rules and regulations for minimum standards loss ratios based on claims experience and earned premiums in accordance with the _____.

The correct choice is the NAIC, which stands for the National Association of Insurance Commissioners. This organization plays a crucial role in establishing guidelines and standards for the insurance industry across the United States, including setting rules for minimum standards for loss ratios.

Loss ratios are essential metrics used to assess an insurer's financial health, representing the proportion of premiums collected that are used to pay claims. By basing regulations on claims experience and earned premiums, the NAIC helps ensure that insurance providers maintain sufficient reserves to cover their liabilities while also promoting fairness and transparency in the marketplace.

The other entities mentioned do not have such a mandate in insurance regulation. The City Council typically governs local municipalities and handles community issues rather than state or national insurance standards. The State Treasury manages state finances and does not establish insurance regulatory frameworks. The FDA, or Food and Drug Administration, oversees public health and safety related to food and pharmaceuticals, not insurance. Therefore, only the NAIC is relevant for setting the rules related to loss ratios in the context of the insurance industry.