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Interstate Insurance Compact Speed to Market The Next Generation. AICP New England Chapter Meeting May 15, 2009 Charles Rapacciuolo Interstate Insurance Product Regulation Commission. Interstate Insurance Compact.

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interstate insurance compact speed to market the next generation

Interstate Insurance CompactSpeed to Market The Next Generation

AICP New England Chapter Meeting

May 15, 2009

Charles Rapacciuolo

Interstate Insurance Product Regulation Commission

(C) IIPRC 2008

interstate insurance compact
Interstate Insurance Compact
  • Uniform Standards for Individual and Group Life, Annuity, Disability Income and Long-Term Care *

* Central Point of Filing and Review *

* Enhanced Efficiency *

* Continued Consumer Protection *

(C) IIPRC 2008

iiprc numbers to remember
IIPRC Numbers to Remember

One is not the loneliest number…

  • 1 = central point of filing
  • 1 = SERFF Submission to all 35 Members for 1 approval

(C) IIPRC 2008

uniform standards development
Uniform Standards Development

Uniform Standards development requires strength in numbers

  • NAIC’s National Standards Working Group & IIPRC Product Standards Committee
  • Public Comment
  • Supermajority adoption requirement (2/3 of Management Committee & Commission)

(C) IIPRC 2008

uniform standards today
Uniform Standards Today

The IIPRC has found a wave in numbers…

  • Over 50 Uniform Standards adopted to date in Individual Life and Annuity product lines that represent :

*Over 6 Annuity TOI available (14 sub-TOI)

*Over 5 Life TOI available (61 sub-TOI)

- More still to come in the Long Term Care and Disability Income along with Group Life and Annuity product lines.

(C) IIPRC 2008

resources available
Resources Available

There are numerous resources available in 1 location – the IIPRC Web Site…

  • Docket (Standards in development)
  • Record (Standards for filing)
  • Industry Resources
  • Member Resources

(C) IIPRC 2008

important industry resources
Important Industry Resources
  • All Filing Instructions
  • Filing Information Notices
  • Statement of Intent
  • Filing Fee Information
  • TOI Link
  • Standards Priorities

(C) IIPRC 2008

making an iiprc filing
Making an IIPRC Filing
  • Click on “Create Compact Filing”…

(C) IIPRC 2008

iiprc filing fees
IIPRC Filing Fees

(C) IIPRC 2008

add a state
Add a State
  • As states join the Compact, you may add them to the Product Filings…

(C) IIPRC 2008

iiprc product ops team
IIPRC Product Ops Team
  • Sara Dubsky, Operations Manager
  • David Morris, Product Review Consultant
  • Alice Fontaine, Actuarial Consultant
  • Charles Rapacciuolo, Development Consultant

(C) IIPRC 2008

iiprc contact information
IIPRC Contact Information

For more information, please contact:

The IIPRC Office -

(202) 471-3962

Comments@insurancecompact.org

web site: www.insurancecompact.org

(C) IIPRC 2008