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Oregon Insurance to use State-Based Systems (SBS)

The Oregon Insurance Division is going live with the

NAIC's State Based Systems

  • What does this mean for you?
    • The Oregon Insurance Division will go live with a new back-office software solution, State-Based Systems (SBS) on May 7, 2012.  As the regulatory system of choice by the Oregon insurance regulators, the state is encouraging the industry to take advantage of these online tools.
  • Changes for Licensees:
    • Individual License Numbers - All individuals will be getting new license numbers.  Starting on May 7th, the Oregon Insurance Division license numbers for individuals will be the same as the National producer Numbers (NPNs) for those persons.  To look up the new license number, use the "Licensee Lookup" tool starting on May 7th.
    • Business Entity License Numbers - All business entities will be getting new license numbers as well on May 7th.  The new business entity license number may be accessed by going to the Licensee Lookup tool.
    • Company License Numbers - All companies will be assigned new company numbers (or Certificate of Authority numbers) based on the SBS system.  On May 7th, use the Licensee Lookup tool.
    • License Printing - Licensees will be able to obtain a PDF license via the SBS License Print or Online Licensee Services (OLS).  Every time that a major change happens to the licensee's record, a free license print will be available.
    • Education transcripts - new to licensees in Oregon will be the ability to view your CE transcripts in real time.  The responsibility of reporting course completion will be handled by the education providers, therefore licensees are no longer required to submit their CE data themselves. 
      • NOTE that there is a $1.00 fee per credit hour that the education providers must pay for this service, so expect an increase of $1.00 per credit hour when purchasing your education.
Regarding CE credits:  For the next two-year renewal cycle, licensees will continue to report any continuing education courses taken prior to May 7, 2012 to the Oregon Insurance Division by submitting paper documentation.  Any courses taken after May 7, 2012 will be reported by the CE providers.
  • Online Demo for Licensees - The state will be holding two online demonstrations via free webinars.  To access the webinars, please go to the Oregon Insurance Website.  Please let me know if you have any questions!

Posted: 2/27/2012 1:09:40 PM by Gary Sternberg | with 0 comments

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