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FOR IMMEDIATE RELEASE

ARKANSAS INSURANCE DEPARTMENT STREAMLINES WITH STATE BASED SYSTEMS

WASHINGTON, D.C. (Oct. 28, 2014) -The Arkansas Insurance Department announced today that it has completed the initial phase of the State Based Systems (SBS) implementation process, making it the latest state to take advantage of the National Association of Insurance Commissioners' (NAIC) electronic application for its regulatory needs.

"We see this as just the first step in transforming our systems and processes here at the Arkansas Insurance Department," said Arkansas Insurance Commissioner Jay Bradford. "The overall goal of the implementation is to provide our insurance producers with a wide variety of online benefits and resources from SBS such as real-time Continuing Education (CE) tracking, license printing and license status verification tools."

"Developing innovative online tools are a primary focus of the NAIC," added NAIC President and North Dakota Insurance Commissioner Adam Hamm. "Providing effective online and back office services, such as those offered by SBS, allows the insurance business and regulatory arenas to become increasingly more effective and productive."

In addition to Arkansas, SBS is currently the system of choice in Alabama, Alaska, Arizona, 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.

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