Mandatory SERFF Filings

Arkansas Insurance Department Mike Beebe Jay Bradford Governor Commissioner 1200 West Third Street, Little Rock, AR 72201-1904 · (501) 371-2600 · (501) 371-2618 fax · www.insurance.arkansas.gov Information (800) 282-9134 · Consumer Services (800) 852-5494 · Seniors (800) 224-6330 · Criminal Inv. (866) 660-0888 BULLETIN NO. 9-2010 TO: ALL ENTITIES MAKING RATE AND FORM FILINGS WITH THE LIFE AND HEALTH, PROPERTY AND CASUALTY DIVISIONS AND OTHER INTERESTED PARTIES FROM: ARKANSAS INSURANCE DEPARTMENT SUBJECT: MANDATORY SERFF FILINGS DATE: NOVEMBER 2, 2010 Effective March 1, 2011, the Arkansas Insurance Department (AID) will no longer accept paper filings. All filings submitted on or after March 1, 2011 must be filed via the System for Electronic Rate and Form Filing ("SERFF"). Additionally, AID mandates the use of Electronic Funds Transfer (EFT) of filing fees as EFT will further expedite disposition of filings. SERFF enables the submission of rate and form filings electronically and facilitates electronic storage, management, analysis, and communication regarding filings. It improves the efficiency of the rate and form filing and approval processes and reduces the time and cost involved in making filings. Insurers, rating organizations, and authorized filers may sign up for SERFF by contacting the SERFF Marketing Team at 816-783-8787 or via email at serffmktg@naic.org. More information about SERFF, including the SERFF vs Industry Manual, may be found on the SERFF website at www.serff.com. Formal training is offered to allow insurers to more fully utilize SERFF. Training information is available at www.serff.com/services_support/training.htm. Additionally, AID mandates the use of Electronic Funds Transfer (EFT) of filing fees, as EFT will further expedite filings. Should your organization believe that it will be unable to comply with this requirement by March 1, 2011; you must provide written notice to the Commissioner no later than December 15, 2010. Such notice must specify the reasons why compliance with this requirement constitutes a hardship for you organization. Pursuant to A.C.A. §23-73-102(b), Farm Mutual Insurance Associations are not subject to the definition of insurer set forth in §23-60-102(2) and thus exempt from the requirements of this bulletin. Additionally, Surplus Lines writers are exempt from the requirements of this bulletin, as they are not required to file rates or forms pursuant to A.C.A. §23-67-203(10) and A.C.A. §23-79-109(a)(1)(B)(xvii). We thank for your cooperation and look forward to working with you to ensure this process works as smoothly as possible. If you have any questions or comments, please call Jennifer Newkirk at 501-371-2765, or email her at 'newkirk i a isas. ov. JAY B' FORD OMMI SIO R AS INS CE DEP A TMENT ArplYildat)i 4 , c9b i b DALE