Just a year after the launch of its Attachments Warehouse, the National Insurance Producer Registry(NIPR), a non-profit affiliate of the National Association of Insurance Commissioners, announced an enhancement to the licensing tool that electronically stores documents submitted by applicants. NIPR’s Reporting of Actions (ROA) expands electronic filing abilities to enable producers to submit necessary documents for reporting administrative, criminal or civil action.
"The ROA enables producers to satisfy more regulatory reporting requirements while making it easier and less expensive for producers to submit important licensing requests," says Linda Hall, NIPR board of directors’ president and Alaska insurance director. "The expanded abilities of the Attachments Warehouse benefits both producers and regulators alike by streamlining the licensing process."
The Attachments Warehouse is designed to be a secure database that electronically receives, stores and shares application, renewal and background information requested by regulators from producers. When additional information or documentation is needed by a state insurance department, the Attachments Warehouse enables producers to submit this data electronically to multiple states at one time, instead of by fax or by mail.
"The Attachments Warehouse creates uniformity and an enhanced system for filing for the entire insurance industry," says Hall. "The more participants who use the tool, the closer the industry will be to having a central mechanism for handling licensing and regulatory needs. The system will be most advantageous once all jurisdictions are signed on."
NIPR is working with the states to confirm their participation, with the hope of having 100% of the jurisdictions participating soon.
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