Weekly Tip: Multi-Company Submissions

 

Weekly Tips

Multi-Company Submissions

5/17/2013

Do you make submissions for more than one company in a single submission? If so, this week's Weekly Tip is for you!

Please be mindful of the general rule for Compact filings that all forms on the Form Schedule will apply to all companies included in the filing submission. It is important to verify that all companies on the filing are properly licensed for the applicable lines of authority in the selected Compacting States.

Applicable filing fees are due for each company. When completing the Filing Fees Schedule, please note the following states collect fees on a combined total basis (from only one company account): Arkansas, Hawaii, Kentucky, Maryland, Missouri, Nevada, New Mexico, Tennessee, and Texas and the remaining states collect fees on a per company basis. The IIPRC Filing Fee is due on a per company, per product basis. More information may be found on the Member State Fee chart on the Insurance Company Resources page of the website.

When you have more than one company on a mix-and-match filing, only one Statement of Intent certification is required and must identify all companies included in the filing submission. All applicable state forms should be listed in the Statement of Intent Schedule. If the state forms are only applicable to certain companies, the filer must indicate the company name for the applicable form in the Comments field of the SOI Schedule line item.

If you are using the template functionality, the heading on the template should follow the lead company on the filing to be consistent with the tracking numbers and company searches. If you are using the Excel spreadsheet to upload your information into the SOI Schedule, you will want to ensure the Comments field denotes the particular company if the state form is not applicable to all companies on the Compact filing.

It is always advisable to contact the IIPRC Office if you have any questions as you are preparing your filing.

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