Close Close
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
ThinkAdvisor

Regulation and Compliance > State Regulation

IIPRC Extends State OK Use

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

The Interstate Insurance Product Regulation Commission will be letting insurers combine use of some IIPRC-approved product components with state-approved components for more than 2 years.

The change affects use of approvals for-asset-based products.

The IIPRC, Washington, is an organization that takes in product and rate filings for 36 jurisdictions, in an effort to promote uniformity and speed up the review process.

“By removing the timeline for use of IIPRC-approved forms with state-approved forms, we recognized the practical hardship from a systems, legal, and cost perspective for companies to re-file their entire portfolio with the commission in such a short period of time,” IIPRC Vice Chair Mary Jo Hudson says in a statement about the change.

Insurers probably will start making more use of the IIPRC filing system once the IIPRC adopts more product filing standards, Hudson 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.