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NAIC Releases SERFF Data Hosting Fiscal

SERFF Fiscal Impact Statement Open for Comment

digital data

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 jwoody@naic.org by July 17.

About the NAIC

As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is 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 reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. For more information, visit www.naic.org.

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