OPTins Introduces A New Payment Method ACH Credit

OPTins INTRODUCES A NEW PAYMENT METHOD ACH Credit (January 5, 2012) – OPTins, the National Association of Insurance Commissioners’ (NAIC) solution for electronic filing and payment of premium tax, surplus lines tax and various other state-specific filings, recently introduced a second electronic payment method, ACH credit. Since 2008, OPTins has facilitated insurance related tax collection using ACH debit processing. While the filing process using ACH debit is faster, some companies expressed interest in an additional payment option, prompting the research into, and the implementation of, ACH credit. As a result, companies can now submit their tax-related filings and payments to any of the 13 OPTins participating states using either ACH debit or ACH credit. The following states have made OPTins their online tax payment system of choice: Premium Tax Surplus Lines Tax State-Specific Alabama Alabama Arizona Alaska Arizona New York Arizona Delaware Rhode Island Delaware Idaho West Virginia Idaho Oklahoma Montana New Hampshire North Dakota North Dakota Oklahoma Rhode Island Puerto Rico West Virginia Rhode Island West Virginia The following states have licensed to use OPTins and are in the process of implementation:  Indiana (Premium Tax)  Nebraska (Premium Tax)  Tennessee (Premium Tax) Companies that are interested in using OPTins and ACH credit must contact the OPTins Marketing Team at 816-783-8787 or optinsmktg@naic.org. States that are interested in making OPTins their electronic solution for tax and state-specific filings should contact Thea Cook, product implementation manager, at 816-783-8747 or tcook@naic.org. About the NAIC The National Association of Insurance Commissioners (NAIC) is the U.S. standard-setting and regulatory support organization created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally. NAIC members, together with the central resources of the NAIC, form the national system of state-based insurance regulation in the U.S. For more information, visit www.naic.org.