Weekly Tip: Choosing States on a Filing


Weekly Tips

Choosing States on a Filing


With companies wanting to add our newest Compacting States to previously-approved Insurance Compact filings, we have received numerous inquiries as to whether they can add a state for some but not all forms on the Form Schedule of an Insurance Compact filing. The simple answer is no. If a state is added to an Insurance Compact filing, it is added for purposes of all of the forms in the filing.

The purpose of the Insurance Compact statute and the IIPRC is to allow companies to file one uniform multi-state filing for all Compacting States where the company is licensed to do business. Once a product filing is approved, the Insurance Compact statute provides that it can be issued and sold in the Compacting States.

What this means is that all forms that are included on the Form Schedule of an Insurance Compact submission will be reviewed, approved, and then effective in all the states that are indicated in a filing submission. It would become an administrative burden and difficult to manage for filers, Compacting States, and the IIPRC if not all the forms in the filing were filed for approval in all of the Compacting States selected on the product filing. This also means that all forms included in the filing require all applicable state filing fees to be paid.

If you prefer to have one or more of the forms available for less than the all the Compacting States on an Insurance Compact submission, then they must be submitted in a separate Insurance Compact submission. An example of this would be where a company wants to file a unisex endorsement that it will only use with its Insurance Compact-approved forms in our newest Compacting State, Montana.

Keep in mind that this is applicable if you are adding a state to a filing with multiple forms, all forms are applicable to the added state. If you would like to have only a particular Insurance Compact-approved form applicable in the new state, you will need to make a new Insurance Compact submission for the new state that includes the particular form.

If you have a unique filing situation, please contact the Insurance Compact Office so that we may understand your filing needs and offer assistance.