After December 31, 2009, the Department’s Office of Product Regulation and Actuarial Services (OPRAS) will no longer accept paper filing submissions
Ohio Department of Insurance director, Mary Jo Hudson has announced that by December 31, 2009, all insurance entities that serve in Ohio will be required to submit rate, rule and form filings for all lines of insurance electronically, using the System for Electronic Rate and Form Filings (SERFF).
Ms. Hudson said: “The Ohio Department of Insurance is committed to enhancing “speed to market” for all lines of insurance. Greater than 97% of all filing submissions are already submitted to the Department via SERFF.”
The SERFF tool is made available to the states through the National Association of Insurance Commissioners (NAIC), and includes features that support moving filed products to market quickly. After December 31, 2009, the Department’s Office of Product Regulation and Actuarial Services (OPRAS) will no longer accept paper filing submissions.
Although the mandatory deadline is December 31, 2009, those entities not already filing through SERFF are encouraged to immediately begin making arrangements to do so. Entities that utilise authorised filers to make filings on their behalf are encouraged to immediately notify their authorised filers to make arrangements to be SERFF compliant before the deadline. Entities also are encouraged to take formal training so that they can fully utilize the SERFF system.