Weekly Tip: 2012 Form Numbers

 

Weekly Tips

Form Numbers

11/20/2012

As we start a new year, this weekly tip will serve as a reminder that Compact form numbers need to reflect the year they are submitted to the Compact.

Compact requirements for form numbers are clear and are found in the same location in all of the Uniform Standards, including those for Long-Term Care advertising.  The General Form Requirements of the Uniform Standards specify that:

"A form identification number shall appear at the bottom of the form in the lower left hand corner of the form. The form number shall be adequate to distinguish the form from all others used by the company. The form number shall include a prefix of ICCxx (where xx represents the appropriate year the form was submitted for filing) to indicate it has been approved by the Interstate Insurance Product Regulation Commission."

Therefore, forms submitted in this new year should use the ICC14 prefix.  Please also be aware that form numbers may not be variable and so may not be bracketed.

When developing your forms, keeping this in mind can not only save you precious review time but also avoid unnecessary production and system costs. To the extent possible, be aware of your project time frames, particularly for submission and implementation.  Also, be sure to double check your filing before it is submitted.  Please follow up with the IIPRC Office if you have questions about the ICCxx prefix or form number requirements.

Please contact the IIPRC Office if you have any questions regarding this notice by sending an e-mail to comments@insurancecompact.org or calling (202) 471-3962.