model is reliable and can be used by all state and relied upon by all states thus ending duplication. What was achieved: Use of a model market conduct examination form the NAIC provided a reliable and consistent method of examination. Analysis of results: Good use of resources that provided for consistency in the exam process. We didn’t have to the “reinvent wheel.” Factors affecting results: The NAIC Handbook provided excellent guidance to staff during the process. Resources used: Market conduct examinations are funded through carrier examination fees. No general fund money was expended. 2.Review rates and forms within the statutory guidelines. Description: Review insurance product rates and forms to ensure they are following statutes and are appropriate for consumers. Why are we doing this: Statutorily required. Ensures that products are legal and consumer-appropriate. What we’re to achieve results: We are streamlining our review and approval process to get products to consumers quickly. Performance Measure: % of rates and forms reviewed as required by statute within 30 days. Performance Target Result 100% 100% (82,535) FY04 Performance Report
model is reliable and can be used by all state and relied upon by all states thus ending duplication. What was achieved: Use of a model market conduct examination form the NAIC provided a reliable and consistent method of examination. Analysis of results: Good use of resources that provided for consistency in the exam process. We didn’t have to “reinvent the wheel.” Factors affecting results: The NAIC Handbook provided excellent guidance to staff during the process. Resources used: Market conduct examinations are funded through carrier examination fees. No general fund money was expended. 2.Review rates and forms within the statutory guidelines. Description: Review insurance product rates and forms to ensure they are following statutes and are appropriate for consumers. Why are we doing this: Statutorily required. Ensures that products are legal and consumer-appropriate. What we’re to achieve results: We are streamlining our review and approval process to get products to consumers quickly. Performance Measure: % of rates and forms reviewed as required by statute within 30 days. Performance Target Result 100% 100% (82,535) FY04 Performance Report
Commerce_Insurance-2.docx