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IIPRC Goes Regional

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The Interstate Insurance Product Regulation Commission has created a pricing option for insurers that want to file asset-based insurance products in 5 or fewer compacting states.

The annual registration fee for the regional filing option is $2,500, and the IIPRC will charge an additional fee of $250 per filing, according to the IIPRC, Washington.

The IIPRC now handles filings for 35 states.

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IIPRC officials note that the commission expects to have 54 Uniform Standards available by the end of the summer.

Recently, the IIPRC adopted a package of “Market Value Adjustment Feature Provided through a Separate Account” and a package of “Market Value Adjustment Feature Solely through General Accounts” standards.