Weekly Tip: Amending Approved Filings

 

Weekly Tips

Amending Approved Filings

10/09/2012

Occasionally the need to amend approved product filing components comes up. This email will assist you with determining the best method to make the amendments.

There are a few points to take into consideration. First, if the change is to supporting documentation or a specifications (data) page, or a correction to a simple typographical error the filing would be considered as an amended filing and should be re-opened. If the purpose is to update the Statement of Intent (SOI) information, the approved product filing submission will need to be re-opened. This may be accomplished by sending a Note to Reviewer asking that the filing be re-opened in order to make your amendments.

For Add-a-State updates that do not include mix and match updates, you do not need to send a Note to Reviewer. Simply click on the Add-a-State radio button and follow the prompts to add your state(s). For more information regarding this process, there are step-by-step directions on the Insurance Company Resources page of the IIPRC web site. If mix and match changes are also being made with the Add-a-State, then add your state(s) and send a Note to Reviewer so that the filing may be re-opened to allow for updates to the SOI.

Companies may also easily update Compact-approved forms to revise the MIB authorization language by sending a Note to Reviewer requesting to reopen the particular filing for this purpose. No additional IIPRC filing fees will apply if the filer adds the forms with the revised authorization language and a certification under Supporting Documentation that no changes other than the revisions to the MIB authorization have been made. Please note that state fees may apply and the IIPRC has published the Member Fees for MIB Updates located on the Insurance Company Resources page of its web site.

When the amendments change the content of the form and the form has been marketed, a new filing needs to be submitted. If a new filing needs to be submitted, please reference the previous filing in the new submission.

At the same time, additional Insurance Compact filing fees may be due. Ask yourself the following questions: is the amendment a simple typographical fix, add a state, or an update to the Statement of Intent information? If your answer is yes, then the Insurance Compact filing fee is not required. If the answer is no, then the applicable amended filing fee is due. Please reference the IIPRC's Schedule of Fees located on the Insurance Company Resources page of the IIPRC web site.

We hope that this information is helpful and provides guidance regarding amending filings. If after reviewing this email, you have any questions please contact the Insurance Compact's office. We will be more than happy to answer any questions you may have as you prepare a Compact filing or amend a previously-approved filing.