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FOR IMMEDIATE RELEASE SERFF
CELEBRATES 10-YEAR ANNIVERSARY ORLANDO, Fla. (March 30, 2008) — The System for Electronic Rate and Form Filings (SERFF) is celebrating its 10th anniversary this year. "Just a decade ago, many believed a nationwide system for the submission and review of rates and forms was only a dream," said NAIC President-Elect and New Hampshire Insurance Commissioner Roger Sevigny, who chairs the SERFF Board of Directors. "Today, that dream is reality – and one that is growing and improving every day.”
Designed to facilitate the
submission and review of rate and form filings, SERFF went into production
in 1998 with eight states and 44 companies. Ten years later nearly 3,000
companies are licensed to use the system that is now widely accepted in 52
regulatory jurisdictions.
The growth of SERFF in recent years has been remarkable and continues into 2008 with record numbers of filing transactions. On an average day, a SERFF filing is received every 15 seconds. SERFF has evolved from a system receiving less than 1,000 filings in its first year to an anticipated 450,000 filings in 2008. To find out more about SERFF and how it helps streamline the rate and form filing process, go to www.serff.com.
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 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 at www.naic.org/press_home.htm.
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©2008 National Association of Insurance Commissioners. All rights reserved. | ||
