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.
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.