A new version of the Market Conduct Annual Statement (MCAS) system should give users the ability to review data on both a national and state level.
The National Association of Insurance Commissioners (NAIC), Washington, says 45 states have agreed to use the updated MCAS system collect 2010 market conduct data.
Participating states want to standardize collection of market conduct data, to help regulators do a better job of monitoring sales practices and other practices.
The new, automated version of the collection tool will be released in April 2011, officials say.
- Allison Bell