The National Association of Insurance Commissioners (NAIC) has announced the System for Electronic Rate and Form Filing (SERFF) reached a milestone during the month of November, surpassing 500,000 filing transactions for the year to date.
The NAIC also projected the speed-to-market tool would surpass 550,000 transactions by the end of December 2008. This accomplishment would top the 2007 filing record by more than 160,000–capping off SERFF's 10-year anniversary celebration.
"Ten years ago, many believed a nationwide system for the submission and review of rates and forms was only a dream," says NAIC president-elect Roger Sevigny, who also serves as New Hampshire insurance commissioner and is chairman of the SERFF board of directors.
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