NAIC ANNOUNCES TRAINING OPPORTUNITIES FOR NEW MARKET
CONDUCT ANNUAL STATEMENT COLLECTION SYSTEM
NAIC To Debut New MCAS Data Collection
AUSTIN, TEXAS (March 26, 2011) — The National
Association of Insurance Commissioners (NAIC) released their
training schedule for the new Market Conduct Annual Statement (MCAS)
"Comprehensive training will be available
for both industry representatives and state regulators on the new
MCAS collection system," said John M. Huff, Chair of the Market
Information Systems Task Force and Missouri Insurance Director. "The
system, which will debut during the Market Information Systems Task
Force Meeting at the NAIC Spring National Meeting, will help improve
state regulation by allowing all participating states to analyze the
industry on a national and state level."
The goal of the MCAS
project is to provide a uniform system of collecting market-related
information to help states monitor the market conduct of companies.
The project began in 2002 and gradually grew from eight
participating states to the 45 jurisdictions that will collect the
2010 data in 2011. Industry will be able to access the new system
via the NAIC Web site on April 15, 2011. The due date for filing all
MCAS lines of business with the states is June 30, 2011.
"Going to production with the new automated tool is the
fulfillment of the NAIC's commitment to centralize the storage of
the MCAS data," said Jane L. Cline, Chair of the Market Regulation
and Consumer Affairs Committee and West Virginia Insurance
Commissioner. "Providing training opportunities for industry
enhances that commitment."
for the list of training opportunities available to industry
Click HERE for the
list of participating jurisdictions.
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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