FOR IMMEDIATE RELEASE

NAIC ANNOUNCES NEW STATE BASED SYSTEMS WEB SITE
StateBasedSystems.com Helps Simplify Regulatory Process

KANSAS CITY, MO (Oct. 17, 2006) - The National Association of Insurance Commissioners (NAIC) is pleased to announce the creation of a new State Based Systems (SBS) Web site.

StateBasedSystems.com is designed to help insurance regulators and industry customers access services more quickly via SBS. It simplifies the regulatory processes, thereby reducing the workload for state insurance department staff, providing significant advantages to consumers, producers and insurers who do business with the state.

Through SBS, customers can electronically file complaints, apply for licenses, verify license status and print copies of licenses without having to send letters, file forms or talk with someone on the phone, cutting down on costly delays.

"The expansion of the SBS Web site greatly increases the value of our online services for consumers. It provides a single access point for not only New Hampshire's data and services, but for multiple jurisdictions," said Barbara Richardson, Director of Operations for the New Hampshire Department of Insurance. "As SBS online resources continue to grow, we see it as a key tool for our internal staff and state consumers. It eliminates paper processing, and the delays associated with manual processing, ultimately providing producers and consumers in our state with better customer service."

Four states, including New Hampshire, as well as the District of Columbia, currently use SBS to process company and producer licensing, market conduct, consumer services, enforcement, and revenue management activities. State regulators rely on its comprehensive Web-based application for efficient and expeditious license processing of producers and companies. SBS also assists the states in more effectively responding to regulatory concerns and consumer-initiated inquiries and/or complaints, and remaining compliant with national uniformity initiatives.

About the NAIC

Headquartered in Kansas City, Missouri, the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and the five U.S. territories. The NAIC's overriding objective is to assist state insurance regulators in protecting consumers and helping maintain the financial stability of the insurance industry by offering financial, actuarial, legal, computer, research, market conduct and economic expertise. Formed in 1871, the NAIC is the oldest association of state officials. For more than 135 years, state-based insurance supervision has served the needs of consumers, industry and the business of insurance at-large by ensuring hands-on, frontline protection for consumers, while providing insurers the uniform platforms and coordinated systems they need to compete effectively in an ever-changing marketplace. For more information, visit NAIC on the Web at: http://www.naic.org/press_home.htm

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