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FOR IMMEDIATE RELEASE

OREGON BRINGS SBS ONLINE
Phase One of Regulatory Streamlining System in Place

WASHINGTON, D.C. (May 11, 2012) — The Oregon Insurance Division announced today that it has completed the initial phase of implementing State Based Systems (SBS), making it the latest state insurance department to use the National Association of Insurance Commissioners' (NAIC) electronic application for its regulatory needs.

“This online system enables us to more efficiently handle agent licensing while improving customer service for the more than 100,000 agents who are licensed to do business in our state,” said Acting Oregon Administrator Lou Savage.

“We are pleased the initial phase of the Oregon implementation is complete,” said NAIC President and Florida Insurance Commissioner Kevin M. McCarty. “SBS offers real value to the NAIC membership as well as the industry and consumers in our states. As the number of participating states continues to grow, so does that value. I offer my congratulations to the Division on accomplishing this key technology initiative.”

In addition to Oregon, SBS is currently used in Alabama, Alaska, Delaware, the District of Columbia, Florida, Illinois, Iowa, Kansas, Maryland, Missouri, Montana, Nebraska, New Hampshire, New Jersey, North Carolina, North Dakota, Oklahoma, Puerto Rico, Rhode Island, Tennessee, U.S. Virgin Islands and West Virginia. Limited SBS services are also licensed by South Carolina and Virginia.

Click HERE for more information about SBS.

About the NAIC

The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. For more information, visit www.naic.org.

Contacts

Communications Division
(816) 783-8909 news@naic.org

Scott Holeman
Communications
Director

Jeremy Wilkinson
Sr. Electronic Communications
Manager

Miun Gleeson
Sr. Communications
Specialist

Vanessa Sink
Communications
Specialist

Erin Johnson
Communications Specialist

Lindsey Kriegshauser
Communications Coordinator

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