The National Association of Insurance Commissioners (NAIC) announced the State Based Systems (SBS) implementation for Wisconsin, making it the 29th state to license SBS.
SBS is an electronic filing tool created for NAIC members to increase efficiency in regulatory functions.
SBS offers a variety of product services for producer licensing, company licensing, continuing education tracking, consumer services, enforcement, fraud reporting, exam tracking and revenue management.
In addition to Wisconsin, SBS is currently the system of choice in Alabama, Alaska, Arizona, Arkansas, Delaware, the District of Columbia, Florida, Illinois, Iowa, Kansas, Maryland, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, Puerto Rico, Rhode Island, Tennessee, U.S. Virgin Islands and West Virginia. Limited SBS services are also licensed by South Carolina and Virginia.
Source: NAIC
Was this article valuable?
Here are more articles you may enjoy.
Insurance Companies Join Letter to Push TPLF Disclosure in Federal Courts 
Baldwin Group to Go Private After $7.7B Investment Deal 
New York Law Confirms Insurer Liability for Bad Faith Includes Third-Party Claims 
FBI Confirms Data Was Breached in Cyber Attack on Springfield Schools 
