NU Online News Service, Dec. 10, 2:37 p.m. – The Texas Department of Insurance wants to streamline its system for reviewing policy forms, certificates, riders, amendments and endorsements for life insurance, accident and health insurance, and annuities.
The department has proposed a new regulation that would let insurers file forms electronically through the System for Electronic Rate and Form Filing, a system developed by the National Association of Insurance Commissioners, Kansas City, Mo.
The proposed regulation would also give the Texas department the ability to notify insurers of department decisions by letter, rather than by stamping duplicate copies of forms. That would eliminate the need for filing duplicate copies of forms, the department says.
Today, the Texas department offers regular, general and expedited review processes. The proposed regulation would simplify matters by combining the processes into one filing process, the department says.