FOR IMMEDIATE RELEASE

SERFF SURPASSES 500,000 TRANSACTIONS
Speed-to-Market Tool Reaches Milestone During 10th Anniversary Year

GRAPEVINE, Texas (Dec. 6, 2008) - The National Association of Insurance Commissioners (NAIC) announced today that the System for Electronic Rate and Form Filing (SERFF) reached a milestone in the month of November, surpassing 500,000 filing transactions year-to-date.

The speed-to-market tool is projected to surpass 550,000 transactions by the end of December 2008. This accomplishment would top the 2007 filing record by more than 160,000 - capping off SERFF's 10-year anniversary celebration.

"Ten years 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 a reality for regulators and insurers alike. In fact, the efficiencies that have resulted from using SERFF are a huge reason many states only accept filings via SERFF."

Nineteen states have either implemented a mandate of SERFF or announced their intent to mandate the use of SERFF in 2009. Ten states have mandated that their filing fees be paid via electronic funds transfer (EFT).

In addition, 50 jurisdictions representing 144 business areas have shown their commitment to uniformity by implementing the product coding matrices - an NAIC membership initiative. Forty-four of those jurisdictions have fully implemented all business areas.

For more information about SERFF, visit www.serff.org.

About the NAIC

Formed in 1871, 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 has three offices: Executive Office, Washington, D.C.; Central Office, Kansas City, Mo.; and Securities Valuation Office, New York City.

The NAIC serves the needs of consumers and the industry, with an overriding objective of supporting state insurance regulators as they protect consumers and maintain the financial stability of the insurance marketplace. For more information, visit www.naic.org.

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