Filed Under:Carrier Innovations, Regulation/Legislation

Industry Expresses Concern over Broadening SERFF for Regulatory Purposes

NU Online News Service, March 2, 3:47 p.m. EST

The unilateral decision by officials of the National Association of Insurance Commissioners (NAIC) to broaden the use of the System for Electronic Rate and Form Filing (SERFF) to include regulatory purposes is coming under strong fire from industry trade groups.

The letter adds, “The NAIC Executive Committee states in its 12/6/11 Memorandum that the SERFF Board is an advisory committee and repeatedly directs the SERFF Board to support certain uses of SERFF or to take certain actions that conflict with the express language of the SERFF bylaws.

“These statements also appear dismissive of the past partnership between the industry and the regulators which has led to SERFF’s success,” the letter says.

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