Banking and Insurance Moves to Electronic Filing for Insurance Related Forms and Fees PDF Print
For Immediate Release                                
No. 017-14

March 25, 2014

For More Information Contact:
Shawna K. Richards, Director of Communications
Ph:    (340) 773-6459 ext. 3129
Cell:    (340)642-4778
Fax:    (340)719-3801
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Banking and Insurance Moves to Electronic Filing for Insurance Related Forms and Fees

Lieutenant Governor Gregory R. Francis, the territory’s Commissioner of Insurance, announced today that the Virgin Islands Division of Banking and Insurance can now accept insurance industry related filings and fees electronically.  The Division recently implemented SERFF, or the System for Electronic Rate and Form Filing, which enables licensed insurance companies, rating organizations, and entities to submit filings electronically.  SERFF users will also be able to pay their filing fees online.   

By implementing electronic filings, the Division has effectively gone green by helping to reduce the amount of paper being consumed by the insurance industry.  The implementation of SERFF continues the Division’s joint efforts with the National Association of Insurance Commissioners (NAIC) in the nationwide Speed to Market/Uniformity initiative that ultimately gets insurance products to the consumer faster.  It is also expected to support compliance with filing of rates and forms as required by the Affordable Care Act and the Centers for Medicare & Medicaid Services.

Insurers and other filers are encouraged to take formal training so they can fully utilize SERFF.  The Division also advises insurers that utilize authorized filers to make filings on their behalf to immediately notify these entities so they can make arrangements to be setup with SERFF.  Training and set up assistance is available through the SERFF Market Team, which may be reached This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or 816.783.8787. Training information can be found on the SERFF website, http://www.serff.com/get_started.htm.

For additional information or assistance, contact the Division of Banking and Insurance at (340) 773-6459.

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