These states comprise 35 percent of national premium volume. Five to 10 states and more products will be added in 2001. Goals of the group include creating greater efficiency in other filing systems, agreeing on a 30-day national review timeframe and competitive rating for commercial lines. Personal lines will also be evaluated this year. The NAIC negotiated model information-sharing agreements with federal regulators.
Individual states are now in the process of signing agreements with each federal regulator.
NAIC members are meeting regularly with federal regulators, including cross-training and education sessions. Members have shown increased leadership in international regulatory discussions. Federal legislation has been proposed that will create regulatory efficiencies, improve dialogue and fight fraud. Streamlined the state-specific UCAA requirements by eliminating requirements that do not add regulatory value. Developed an automated UCAA system.