Bulletin 2011-09 Mandatory use of SERFF for all Insurance Rate, Rule and Form Filings

TO: FROM: SUBJECT: DATE: South Carolina Department of Insurance Capital Center 1201 Main Street, Suite 1000 Columbia, South Carolina 29201 Mailing Address: P.O. Box 100105, Columbia, S.C. 29202-3105 Telephone: (803) 737-6160 BULLETIN NUMBER 2011-09 NIKKI R. HALEY Governor DAVID BLACK Director of Insurance All Insurance Companies and Health Maintenance Organizations Licensed to do Business in South Carolina D~vid Blac~ \\~ Director -J Mandatory use of SERFF for all Insurance Rate, Rule and Form Filings August 31,2011 I. PURPOSE The South Carolina Department of Insurance is committed to enhancing speed to market for all lines of insurance. Speed to market will only be fully realized through the use of electronic filing. The best way to achieve this is through the System for Electronic Rate and Form Filings (SERFF) which was developed by the National Association of Insurance Commissioners. II. DEPARTMENTAL ACTION Effective December 1, 2011, the Department will no longer accept paper filings. This applies to all lines of insurance and for all rate, rule and/or form filings. All fees related to such filings should be paid by electronic funds transfer (EFT). Filers not yet using SERFF may enroll by contacting SERFF at 1-816-783-8787 or by e-mail at serffmkg@naic.org. Insurers and other filers needing additional information about SERFF may visit www.serff.com. Filers are encouraged to take formal training so they can fully utilize the SERFF system. Contact information regarding training can be found at the SERFF website at www.serff.com/training. htm. Insurers using authorized filers to make filings on their behalf should immediately notify those entities so that they can arrange to be SERFF compliant by December 1, 2011. III. QUESTIONS Any questions or concerns about this Bulletin should be submitted in writing to the attention of: Andrew Dvorine, ASA, MAAA Life Actuary South Carolina Department of Insurance 145 King Street, Suite 228 Charleston, South Carolina 2940 I Facsimile: (843) 722-6105 E-mail: advorine@doi.sc.gov Bulletins are the method by which the Director of Insurance formally communicates with persons and entities regulated by the Department. Bulletins are departmental interpretations of South Carolina insurance laws and regulations and provide guidance on the Department's enforcement approach. Bulletins do not provide legal advice. Readers should consult applicable statutes and regulations or contact an attorney for legal advice or for additional information on the impact of that legislation on their specific situation.