Weekly Tip: Connecticut Enacts Compact Legislation - 2017 Effective Date

 

Weekly Tips

Connecticut Enacts Compact Legislation - 2017 Effective Date

6/23/2016

In addition to the Interstate Insurance Product Regulation Commission (IIPRC) celebrating the 10th anniversary of its inaugural meeting last week, we are very pleased to announce that the State of Connecticut has enacted the Insurance Compact legislation.

Connecticut became the 45th Compacting State to join the IIPRC when Connecticut Governor Dan Malloy signed H.B. 5051 on June 8th. The law will become effective on July 1, 2017. At that time, companies may include Connecticut for individual and group life, as well as individual annuity submissions. The Connecticut legislation includes an opt-out of the long-term care and disability income Uniform Standards.

The IIPRC is excited to welcome our newest member state and looks forward to working with Connecticut during its implementation, and to assisting company filers with including Connecticut in their IIPRC filings next summer.

If you have any questions about this Weekly Tip or the IIPRC, please contact the IIPRC Office.