The quantity of filings submitted through the System for Electronic Rate and Form Filing (SERFF) continues to multiply as an increasing number of state regulators and insurers recognize the system as a much-needed solution to for addressing cost efficiency, accuracy, and ease of status tracking.As of May 31, 2004, over 50,000 filings had been submitted via SERFF, nearly twice the number of filings submitted during the first five months of 2003. It is anticipated that approximately 155,000 filings will be submitted by year-end 2004, according to the National Association of Insurance Commissioners (NAIC), Kansas City, Mo.
SERFF usage has been increasing since it was introduced by the NAIC in 1998. Currently, 49 states, the District of Columbia and Puerto Rico accept SERFF filings. Of those, 50 jurisdictions accept property and casualty filings, 48 accept life insurance filings, and 42 accept health insurance filings.
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