The Alabama Insurance Department and nine other Insurance Departments were recently recognized for successfully implementing an extensive-technology-based initiative in the State Regulation 2000 Program. The technology program is a series of aggressive initiatives developed and supported by state regulators to streamline, strengthen and enhance state regulation. Commissioner Parsons stated; “These initiatives are providing Alabama with new regulatory tools to improve their ability to regulate not only the ten billion dollar industry in Alabama but the nine hundred billion dollar country wide insurance industry”. Twenty-three state departments have presently completed the implementation of this program.
David Parsons further stated; “That the State’s ability to come together and develop these types of aggressive programs are a tribute to the strength of state regulation. This Department will continue to work to fully implement the technology and policy initiatives required for effective regulation in the twenty-first century. The states have made amazing progress in modernization in the past year”.