Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Running Your Business

IIPRC Approves Filing Fee System

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

Members of the Interstate Insurance Product Regulation Commission have adopted a filing fee proposal.

The proposal calls for each independent insurer to pay an annual IIPRC registration fee of $5,000.

An insurer group must pay a $5,000-per-company annual registration fee for each of the first 5 companies registered.

A group will pay a $1,000-per-company annual registration fee for the sixth company registered and each additional company registered, according to a filing fee proposal draft posted on the IIPRC Web site.

The proposal also calls for insurers to pay a “per filing fee” of $500 per filing.

The per-filing fee requirement took effect Monday, and the annual registration fee requirement will take effect Jan. 1, 2008.

Insurers must pay the IIPRC fees through the System for Electronic Rate and Form Filing, and per-filing fees must be submitted at the time of filing.

The IIPRC will conduct a 1-year study of the idea of creating a flat filing fee arrangement.

Alaska, Colorado, Georgia, Hawaii, Iowa, Kansas, Maine, Massachusetts, Michigan, Minnesota, Nebraska, New Hampshire, North Carolina, Ohio, Oklahoma, Pennsylvania, Puerto Rico, Rhode Island, Texas, Utah, Vermont, Virginia, Washington, West Virginia and Wyoming voted for the proposal, according to the IIPRC.

An electronic vote was not received from Idaho, Indiana, Kentucky, Maryland or Tennessee, the IIPRC says.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.