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Regulation and Compliance > State Regulation

Filing Compact Expands

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Missouri is joining the Interstate Insurance Product Regulation Compact.

Missouri Gov. Jay Nixon, D, has signed H.B. 577, a bill authorizing the state to join the compact, according to officials at the Interstate Insurance Product Regulation Commission, Washington, the agency that oversees the compact.

Missouri has become the third state to join the compact in 2009.

The IIPRC now takes in product filings and other filings for 35 states and Puerto Rico, and it handles filings for jurisdictions that account for about 60% of U.S. premium volume for life insurance, annuity, long term care insurance and disability insurance products, officials estimate.