AUSTIN, TEXAS — The National Association of Insurance Commissioners (NAIC) released their training schedule for the new Market Conduct Annual Statement (MCAS) collection system.
“Comprehensive training will be available for both industry representatives and state regulators on the new MCAS collection system,” said John M. Huff, Chair of the Market Information Systems Task Force and Missouri Insurance Director. “The system, which will debut during the Market Information Systems Task Force Meeting at the NAIC Spring National Meeting, will help improve state regulation by allowing all participating states to analyze the industry on a national and state level.”
The goal of the MCAS project is to provide a uniform system of collecting market-related information to help states monitor the market conduct of companies. The project began in 2002 and gradually grew from eight participating states to the 45 jurisdictions that will collect the 2010 data in 2011. Industry will be able to access the new system via the NAIC Web site on April 15, 2011. The due date for filing all MCAS lines of business with the states is June 30, 2011.
“Going to production with the new automated tool is the fulfillment of the NAIC’s commitment to centralize the storage of the MCAS data,” said Jane L. Cline, Chair of the Market Regulation and Consumer Affairs Committee and West Virginia Insurance Commissioner. “Providing training opportunities for industry enhances that commitment.”