Press Release September 11, 2000 DC Department of Insurance Receives Award for Technology Initiatives Dallas, TX - The District of Columbia Department of Insurance and Securities Regulation (DISR) received the State Regulator 2000 (SR 2000) Award today from the National Association of Insurance Commissioners (NAIC) during the NAIC quarterly meeting in Dallas, TX. NAIC is the nation's oldest association of state government officials, representing regulators from all 50 states, the District of Columbia and four US territories. SR 2000 is a series of aggressive initiatives developed and supported by state regulators to streamline, strengthen and enhance state regulation. DISR successfully implemented all 11 technology based initiatives and is one of only 13 states to have completed the process. "SR 2000 gives DISR enhanced regulatory tools to improve our ability to regulate the insurance industry in the District. The system also help reduce or eliminate licensing and approval duplication among the states," said DC Insurance and Securities Commissioner Lawrence H. Mirel. "The members of DISR staff are to be commended for their hard work and effort towards our receiving this award," said Commissioner Mirel. He singled out for special praise John Wallace, Systems Director of the DISR. In addition to the NAIC initiatives, over the last several months DISR has launched a web site, www.disr.washingtondc.gov and is implementing a document scanning system. "The initiatives we've implemented through the SR2000 Program and our information systems office are steps towards our goal of making the District a place where insurance and financial services companies will want to do business," said Commissioner Mirel. In a separate event, a survey, conducted by the Consumer Federation of America (CFA), a Washington, DC based consumer watchdog group, graded state insurance departments for their ability to adequately serve consumers, budget of departments and number of actuaries on staff. Washington, DC, along with seven states scored an A+, meaning that the state met or exceeded the minimum funding level required for adequate supervision by state departments. Grades were given to each jurisdiction on a scale based upon the percentage of tax revenues collected on insurance premiums devoted to insurance regulation. "Although separate and distinct achievements, the SR 2000 Award and the survey by CFA highlights the accomplishments of DISR under Mayor Anthony Williams' Administration," said Commissioner Mirel. "We intend to continue to strengthen the District of Columbia insurance market to better serve District consumers through a competitive and progressive regulatory structure," said Mirel. The DC Department of Insurance and Securities Regulation (DISR) has two missions, (1) to provide fair, efficient and fast regulatory supervision of the insurance and securities businesses for the protection of the people of the District of Columbia, and (2) to create conditions that will retain and attract national and international insurance and other financial businesses to the District.