(c) iiprc 2008. interstate insurance compact speed to market the next generation aicp new england...
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(C) IIPRC 2008 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 *TRANSCRIPT
(C) IIPRC 2008
(C) IIPRC 2008
Interstate Insurance Compact
Speed to Market The Next Generation
AICP New England Chapter MeetingMay 15, 2009Charles RapacciuoloInterstate Insurance Product Regulation Commission
(C) IIPRC 2008
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
(C) IIPRC 2008
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 DevelopmentUniform 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 TodayThe 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
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
All Filing InstructionsFiling Information Notices Statement of IntentFiling Fee InformationTOI LinkStandards Priorities
(C) IIPRC 2008
Uniform Standards on the Web Site
(C) IIPRC 2008
(C) IIPRC 2008
Making an IIPRC Filing Click on “Create Compact Filing”…
(C) IIPRC 2008
IIPRC Submission Requirements
(C) IIPRC 2008
IIPRC Filing Fees
(C) IIPRC 2008
Add a State As states join the Compact, you may add them
to the Product Filings…
(C) IIPRC 2008
(C) IIPRC 2008
(C) IIPRC 2008
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 InformationFor more information, please contact:
The IIPRC Office -
(202) [email protected] site: www.insurancecompact.org