Speed to Market (EX) Task Force
October 1, 2007

The Speed-to-Market (EX) Task Force met on October 1, 2007. During the meeting, the Task Force discussed the following items:

• The Task Force heard a report from its Operational Efficiencies Working Group and learned the Working Group held three conference calls during the quarter. The Task Force adopted Chapter Five of the Product Filing Examiners Handbook and discussed some changes proposed to the Product Coding Matrices.

• The Task Force heard a report from the Personal Lines Market Regulatory Framework Working Group on its activities during the quarter. Chair David Parsons (AL) reported that work on its white paper was nearly complete. He promised delivery of a final report at the 2007 NAIC Winter National Meeting.

• The Task Force heard from David Snyder (AIA) related to concerns that the industry has with the Personal Lines Framework White Paper.

• The Task Force received a report from the Interstate Compact National Standards Working Group on the activities during quarter of its four drafting teams. Progress continues to be made on developing standards for life insurance, disability insurance, long-term care and annuities.

• The Task Force heard from Executive Director Fran Arricale regarding the activities of the Interstate Insurance Product Regulation Commission (IIPRC). The Task Force learned that the IIPRC has 30 members and has received and completed several filings during the quarter. The IIPRC has adopted 36 product filing standards and is using volunteer professional staff from compacting states for product review.

• The Task Force received an update on SERFF activities. The Task Force learned that 50 states, D.C. and Puerto Rico accept SERFF filings. Of those states, 46 accept all major lines of business for life insurance products, 41 for health products and 50 for property and casualty products. Several states have mandated the use of SERFF or electronic filings.

• The Task Force adopted proposed charges for 2008.

Action Items

The Task Force:

• Adopted Chapter Five of the Product Filing Examiners Handbook as part of its adoption of the report of the Operational Efficiencies Working Group.

• Received a report from the Personal Lines market Regulatory Framework Working Group.

• Received a report from the Interstate Compact National Standards Working Group.

• Adopted proposed charges for 2008.