Insurance Rate Documents

The records will be kept in the office of the insurance division for a minimum of five years. At the end of the minimum period, files are to be reviewed and necessary data is to be extracted from the records if applicable, and all purged documents from the record will be destroyed by state approved methods. These records are stored on the National Association of Insurance Commissioners (NAIC) computer systems. A variety of NAIC systems may use data that has been submitted to the NAIC by the state or by the industry. This data is an NAIC-owned proprietary asset that is accessible by state insurance regulators, but is not part of a repository for state-owned data. Examples include financial statement filings submitted by the insurance industry and information submitted by state regulators such as closed complaint information, regulatory actions, and examination reports. While this information is submitted to the NAIC to share with other state insurance regulators, systems such as Financial Examination Electronic Tracking System (FEETS) and Examination Tracking System (ETS) are not repositories of state-owned examination files. NAIC Systems with State-Owned Data System for Electronic Rate and Form Filing (SERFF) is the system used by insurers to file Rate and Form filings to the state Department of Insurance (DOI) and for the state DOI personnel to review those filings. All of the data associated to the filing is kept in the SERFF database. This database is housed at the NAIC but the data contained in it is owned by the states. Currently this data is kept on a permanent basis, but will have a ten year retention placed on it after the approval of this RDA. Tennessee has three instances in the SERFF database for filing to their state. There is a Life & Health instance, a Property & Casualty instance and a Workers’ Compensation instance. Tennessee began using SERFF in 2007. Tennessee does not mandate that filers use SERFF. The OPTins system is used by insurers to file tax filings with the state DOI, or other state agency with oversight over premium tax filings, and for the state personnel to review that information. The data associated to the filing is kept in the OPTins database. This database is housed at the NAIC but the data contained in it is owned by the states. Currently this data is kept on a permanent basis, but will have a minimum three year retention placed on it after the approval of this RDA. Tennessee began using OPTins for the collection of Premium Tax information in February 2012. The State Based Systems (SBS) system is an electronic system owned by the NAIC and enhanced in partnership with state insurance departments. The purpose of the SBS initiative is to provide a comprehensive, web-based application for use by state regulators in support of insurance regulatory functions. SBS enables state insurance departments to more efficiently and effectively process license applications, renewals, inquiries, complaints, enforcement actions, etc., with minimum effort and remain compliant with national uniformity initiatives. Tennessee uses these SBS services for Producer Licensing, Company Licensing, Continuing Education, Consumer Services,US Department of Health and Human Services, CAPG, Affordable Health Care Act, Enforcement, Investigations and Revenue. All the data associated with SBS is contained in the SBS-TN database housed at the NAIC. All data contained in the SBS-TN database is the property of the state. Data was migrated from the state’s legacy systems when Tennessee transitioned to SBS in February 2010. Currently this data is kept on a permanent basis, but will have a minimum three year retention placed on it after the approval of this RDA.