WASHINGTON (April 17, 2025)
South Dakota Becomes 36th VsportV体育 Member to License State Based Systems
The VsportV体育 (VsportV体育) proudly announces the South Dakota Division of Insurance has officially licensed . This milestone marks South Dakota as the 36th VsportV体育 member to adopt SBS, an electronic system designed to revolutionize the efficiency and effectiveness of insurance regulatory processes.
SBS empowers state insurance departments to seamlessly process license applications, renewals, inquiries, complaints, enforcement actions, and more鈥攄elivering results with minimal effort while ensuring compliance with national uniformity initiatives. The integration between SBS and the National Insurance Producer Registry (NIPR) is a cornerstone for streamlining mission-critical regulatory tasks.
South Dakota Insurance Director Larry Deiter shared the positive change of SBS, saying, 鈥淪BS helps us protect South Dakota consumers more efficiently. It鈥檚 easy to use and makes our regulatory work simpler, while also saving money for the businesses and license holders we work with. We鈥檙e excited to start using SBS in South Dakota this summer.鈥
With a broad array of services鈥攊ncluding producer licensing, company licensing, continuing education tracking, consumer services, enforcement, fraud reporting, exam tracking, and revenue management鈥擲BS stands as a comprehensive solution that adapts to the diverse needs of insurance regulators.
In addition to South Dakota, SBS is currently the system of choice in Alabama, Alaska, Arizona, Arkansas, Connecticut, Delaware, the District of Columbia, Florida, Guam, Hawaii, Idaho, Illinois, Iowa, Kansas, Massachusetts, Maryland, Missouri, Montana, Nebraska, New Hampshire, New Jersey, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Carolina, Tennessee, U.S. Virgin Islands, Vermont, West Virginia, and Wisconsin. Limited SBS services are also licensed by Virginia.
About the VsportV体育
As part of our state-based system of insurance regulation in the United States, the VsportV体育 (VsportV体育) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the VsportV体育, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. VsportV体育 staff supports these efforts and represents the collective views of state regulators domestically and internationally.