(c) iiprc 2008. interstate insurance compact speed to market the next generation aicp new england...

Post on 17-Jan-2018

218 Views

Category:

Documents

0 Downloads

Preview:

Click to see full reader

DESCRIPTION

(C) IIPRC 2008 Interstate Insurance Compact * Uniform Standards for Individual and Group Life, Annuity, Disability Income and Long-Term Care * * Central Point of Filing and Review * * Enhanced Efficiency * * Continued Consumer Protection *

TRANSCRIPT

(C) IIPRC 2008

(C) IIPRC 2008

Interstate Insurance Compact

Speed to Market The Next Generation

AICP New England Chapter MeetingMay 15, 2009Charles RapacciuoloInterstate Insurance Product Regulation Commission

(C) IIPRC 2008

Interstate Insurance Compact

* Uniform Standards for Individual and Group Life, Annuity, Disability Income and Long-Term Care *

* Central Point of Filing and Review *

* Enhanced Efficiency *

* Continued Consumer Protection *

(C) IIPRC 2008

(C) IIPRC 2008

IIPRC Numbers to Remember

One is not the loneliest number… 1 = central point of filing 1 = SERFF Submission to all 35

Members for 1 approval

(C) IIPRC 2008

Uniform Standards DevelopmentUniform Standards development requires

strength in numbers NAIC’s National Standards Working

Group & IIPRC Product Standards Committee

Public Comment Supermajority adoption requirement

(2/3 of Management Committee & Commission)

(C) IIPRC 2008

Uniform Standards TodayThe IIPRC has found a wave in numbers…- Over 50 Uniform Standards adopted to date

in Individual Life and Annuity product lines that represent :*Over 6 Annuity TOI available (14 sub-TOI)*Over 5 Life TOI available (61 sub-TOI)

- More still to come in the Long Term Care and Disability Income along with Group Life and Annuity product lines.

(C) IIPRC 2008

Resources Available

There are numerous resources available in 1 location – the IIPRC Web Site…

Docket (Standards in development) Record (Standards for filing) Industry Resources Member Resources

(C) IIPRC 2008

Important Industry Resources

All Filing InstructionsFiling Information Notices Statement of IntentFiling Fee InformationTOI LinkStandards Priorities

(C) IIPRC 2008

Uniform Standards on the Web Site

(C) IIPRC 2008

(C) IIPRC 2008

Making an IIPRC Filing Click on “Create Compact Filing”…

(C) IIPRC 2008

IIPRC Submission Requirements

(C) IIPRC 2008

IIPRC Filing Fees

(C) IIPRC 2008

Add a State As states join the Compact, you may add them

to the Product Filings…

(C) IIPRC 2008

(C) IIPRC 2008

(C) IIPRC 2008

IIPRC Product Ops Team

Sara Dubsky, Operations Manager David Morris, Product Review

Consultant Alice Fontaine, Actuarial Consultant Charles Rapacciuolo, Development

Consultant

(C) IIPRC 2008

IIPRC Contact InformationFor more information, please contact:

The IIPRC Office -

(202) 471-3962Comments@insurancecompact.orgweb site: www.insurancecompact.org

top related