FOR IMMEDIATE RELEASE
NAIC Releases SERFF Data Hosting Fiscal
SERFF Fiscal Impact Statement Open for Comment
WASHINGTON (July 3, 2019) — The National Association of Insurance Commissioners (NAIC) released for public comment a proposal to move data storage of rate and form filings for insurance companies to the System for Electronic Rates & Forms Filing (SERFF). The proposal would eliminate the need for using third parties to electronically store or "host" rate and form filings, while improving efficiency and reducing NAIC’s ongoing support costs.
The change is aligned with the NAIC's State Ahead goal of transitioning its applications to the Cloud, a process that began in 2017. The implementation of data hosting will not add expenses to the NAIC’s budget in 2019. SERFF customers who license the data hosting services will be charged a modest fee to cover internal support and storage costs.
Written comments or questions should be addressed to the NAIC and forwarded to the attention of NAIC CFO Jim Woody at firstname.lastname@example.org by July 17.