NAIC Offers Online Product Requirements Locator

NU Online News Service, March 12, 10:35 a.m.EST?Atlanta?The NationalAssociation of Insurance Commissioners said it has developed asearchable database that will provide insurers quick access tosummarized product content requirements for rates, rules and formson a national basis.

The announcement was made during the Kansas City, Mo.-basedassociation's Improvements to State-Based Systems Working Groupmeeting held at the association's spring national meeting here inAtlanta.

The online database, called "Product Requirements Locator,"allows filers to obtain current state-by-state filing requirementsfrom a search engine on the NAIC's Web site, according to theImprovements to State-Based Systems Working Group.

"We can now provide a one-stop, national information source forproduct filings," said Larry Mirel, insurance commissioner forWashington, D.C. and co-chairperson of the Working Group.

The database's property-casualty category is currentlyfunctional and includes filing requirements from several states,with more than 20 other states expected to join the listshortly.

"We have received tremendous feedback from insurance industryrepresentatives that have used the Product Locator," said PegIsing, assistant director of the property and casualty division atthe Ohio Insurance Department. "The industry has enthusiasticallyexpressed its view that this will be a very effectivespeed-to-market tool."

The Product Requirement Locator can be found on the NAIC's Website at www.naic.org. Click on "Industry," then "Rates & FormsFilings."