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Regulation and Compliance > State Regulation

Missouri Sticks With IIPRC Standards

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The Show Me State has agreed to use annuity standards set by the Interstate Insurance Product Regulation Commission.

Missouri earlier had suggested that it might opt out of the Additional Standards for Market Value Adjustment Features Provided through the General Account, a set of standards established by the IIPRC, Washington.

Missouri is no longer pursuing efforts to opt out, IIPRC officials say.

Missouri showed that the states that have tried to make the insurace product and form filing process more uniform by creating the IIPRC can opt out, and it also showed IIPRC members’ willingness to discuss a state’s concerns, according to IIPRC Chair Mary Jo Hudson, the Ohio insurance commissioner.