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FOR IMMEDIATE RELEASE

NEW MEXICO JOINS SBS
       

ORLANDO (March 30, 2014) The National Association of Insurance Commissioners (NAIC) announced today that the New Mexico Office of the Superintendent of Insurance has licensed State Based Systems (SBS), an NAIC-owned and operated regulatory tool.
       
"SBS offers our department the opportunity to significantly augment our regulatory efforts through time-tested technology tools used by the majority of the NAIC membership," said John G. Franchini, New Mexico Insurance Superintendent. "In utilizing SBS, our processes will enable greater efficiency while leveraging NAIC initiatives, which will have a direct and immediate impact on our ability to provide high- quality service to all of our customers.”
       
"We welcome the state of New Mexico as the 27th NAIC member to use SBS," said Adam Hamm, NAIC President and North Dakota Insurance Commissioner. "The SBS suite of products provides the technology and resources to allow regulators to better serve and focus on consumers."
       
 In addition to New Mexico, 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, 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.

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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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