D.C. Regulator Offers Insurers New Web Service
By Steven Brostoff, Washington Editor
NU Online News Service, Feb. 26, 3:18 p.m. EDT, Washington?Insurance companies doing business in Washington, D.C., will be able to renew the appointment of their producers on the Internet.[@@]
D.C. Insurance Commissioner Lawrence H. Mirel said that D.C. is one of the first jurisdictions in the nation to provide this service through the Internet, with Oklahoma being the only other.
Mr. Mirel said that the program will begin March 15 and will be done in association with the National Insurance Producer Registry via NIPR's Web site at www.licenseregistry.com.
The program, he said, allows his department to respond to the needs of the industry without compromising its regulatory authority.
"With this process in place, we now have the ability to allow insurers to renew appointments in a more timely and efficient manner," he said.
In addition, Mr. Mirel added, the system allows department staff to process demographic updates and renewals in real-time, thus gaining greater control over the process.
Currently, he said, there are more than 35,000 insurance producers licensed in D.C. Last year, he said, the department manually processed more than 114,000 insurance company appointment renewals. The estimate is that more than 130,000 renewals will be processed this year.
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