Weekly Tip: Comment Period

 

Weekly Tips

Comment Period

9/02/2015

The Insurance Compact has a new comment period that we wanted to bring to your attention. 

The Product Standards Committee recommended to the Management Committee on August 14th the draft versions of the group disability income uniform standards as well as amendments to the Group Policyholder Application Uniform Standards for Term Life Insurance for a 60 day public comment period.  These uniform standards and amendments were published on August 27th and comments are being accepted on these draft uniform standards and amendments until Tuesday, October 27th.  The draft versions of the group disability income uniform standards may be found on the Docket of the Insurance Compact's website. There are seven uniform standards. The proposed amendments to the Group Policyholder Application Uniform Standards for Term Life Insurance, now being amended to be Group Policyholder Application Uniform Standards, may also be found on the Docket under "Amendments to Uniform Standards".  The Rulemaking history, to include the Advance Rulemaking process, can also be found on the Docket for each of the applicable uniform standards.

These uniform standards and amendments will be subject to a public hearing during the next in-person meeting of the Management Committee and Commission on November 18th in Washington, DC. Conference call capabilities will be available for those who wish to participate and will not be able to travel.  These uniform standards and amendments will be considered for adoption at a conference call of the Management Committee and Commission likely to be scheduled in December.  We would advise that you monitor the Event Calendar located on the Insurance Compact's website for more details.

More information regarding these comment periods may be found on the Docket located on the Insurance Compact's website.  All interested parties are strongly encouraged to provide their comments to the Insurance Compact regarding the group disability income uniform standards and amendments to the Group Policyholder Application Uniform Standards. The public comment period is a chance for all to provide their comments regarding the provisions included in the uniform standards by which the products are reviewed. All comments may be submitted electronically to comments@insurancecompact.orgor by mailing to IIPRC 444 North Capitol Street, NW, Suite 700 Washington DC 20001.

If you have any questions regarding the proposed uniform standards and amendments, this Weekly Tip, or the Insurance Compact, please contact the office.