Princeton Financial Systems Announces New US Insurance LawCards® for NAIC Model Law Compliance

14 May 2009

Princeton Financial Systems (PFS), a State Street company and leading provider of investment accounting, investment compliance, data management, and reporting solutions to the global investment industry, today announced plans to launch a set of new US Insurance LawCards®. LawCards are predefined rule sets for monitoring investment compliance for major investment jurisdictions using MIG21, PFS’ award-winning investment compliance solution.

Princeton Financial has a long history of providing LawCards. The latest LawCard addition extends PFS’ LawCard portfolio with the first LawCard geared specifically to the US insurance market. PFS’ US Insurance LawCards will comprise a framework of preconfigured frequently used rules in line with the National Association of Insurance Commissioners’ (NAIC) Model Law investment guidelines. It will also accommodate differences between individual state regulations.

This LawCard will increase efficiencies for insurance companies to comply with individual state or national regulations. The high flexibility of the system allows PFS’ clients to quickly adapt individual rules to meet additional national, internal or client investment guidelines without the need for programming.

Lorne Whitmore, Head of Global Sales at Princeton Financial Systems underlines: "Being a major financial systems vendor in the US Insurance industry for decades we understand our clients’ needs very thoroughly. We are therefore very proud to provide a solution for US insurance companies to comply with NAIC Model Law and individual state regulation more rapidly and safely using tested and market-proven rules written by PFS experts. The inherent flexibility of LawCards and the underlying investment compliance system MIG21 makes it possible to monitor any rule independent of its complexity or asset class."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development