FOR IMMEDIATE RELEASE
ARIZONA JOINS SBS
WASHINGTON, D.C. (April 28, 2014) - The National Association of Insurance
Commissioners (NAIC) announced today that the Arizona Department of
Insurance has licensed State Based Systems (SBS), an NAIC-owned and
operated regulatory tool.
"We are confident in the ability of SBS to help us significantly streamline
our processes and improve our services," said Germaine L. Marks, Arizona
Insurance Director. "Uniform functionality licensed by 27 other NAIC
members, state of the art self-service tools used by our industry
stakeholders, and the guarantee that SBS will maintain pace with all NAIC
initiatives are all key reasons why the Arizona Department of Insurance
"I congratulate the Arizona Department of Insurance on its decision to
implement SBS and its full set of benefits to licensees, companies and
consumers," said Adam Hamm, NAIC President and North Dakota Insurance
Commissioner. "The NAIC continues its strong support of state-based
insurance regulation through a variety of member initiatives like SBS with
substantial state participation."
SBS is a back-office software system designed with the help of state
insurance regulators. Offered as a benefit of NAIC membership, SBS offers a
variety of product services for producer licensing, company licensing,
consumer services, enforcement, fraud, exam tracking and revenue
In addition to Arizona, SBS is currently the system of choice in Alabama,
Alaska, Arkansas, Delaware, the District of Columbia, Florida, Illinois,
Iowa, Kansas, Maryland, Missouri, Montana, Nebraska, New Hampshire, New
Jersey, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, Puerto
Rico, Rhode Island, Tennessee, U.S. Virgin Islands and West Virginia.
Limited SBS services are also licensed by South Carolina and Virginia.
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.