Announcing Mandatory Use of EFT for Product Filing Submissions

# OHIO DEPARTMENT OF INSURANCE STATE OF OHIO BULLETIN 2010 – 08 Announcing Mandatory Use of EFT for Product Filing Submissions Effective Date: January 1, 2011 The Ohio Department of Insurance (“Department”) currently invoices in arrears on a quarterly basis, the fees for rate, rule and form filings submitted by filing entities. Effective January 1, 2011, the Department will no longer use this process to obtain these fees. Ohio Administrative Code (OAC) 3901-1-57 has been amended to require that the fees for rate, rule and form filings be submitted via the SERFF Electronic Funds Transfer (“EFT”) functionality at the time the filing is submitted to the Department. While the effective date of the rule amendment is November 22, 2010 the implementation of the EFT functionality is being delayed until January 1, 2011 to allow the Department and the filing entities to prepare for the change in process. All filing submissions received on or after January 1, 2011 must comply with OAC 3901-1-57. Under OAC 3901-1-57(C), fees remain $50 per filing submission per insurer. Filing entities may sign up for SERFF EFT by contacting the SERFF Marketing Team at 816-783-8787 or via email at serffmktg@naic.org. More information regarding SERFF EFT is also available at http://www.serff.org/eft.htm. Filing entities are strongly encouraged to make arrangements with SERFF as soon as possible in order to be compliant on or before January 1, 2011. Since the Department currently invoices in arrears, the Department will invoice one final time in early February 2011 for filing submissions received from October 1, 2010 through December 31, 2010. Non-rate, rule and form filings that do not have a filing fee associated with them, such as life illustrations and Rx ID Card Annual Certifications, will no longer be accepted via SERFF. Effective January 1, 2011, these non-rate, rule and form filings must be submitted in hard copy via U.S. Mail or a courier service to the attention of the Office of Product Regulation & Actuarial Services. Questions regarding this Bulletin for property & casualty or title insurance filing submissions should be sent to: property.casualty@insurance.ohio.gov. Questions regarding this Bulletin for life, health or managed care filing submissions should be sent to: life.health.mcd@insurance.ohio.gov. Mary Jo Hudson Mary Jo Hudson, Superintendent of Insurance 50 W. Town Street, 3rd Floor, Suite 300 Columbus, OH 43215