Weekly Tip: Reopening Filing Submissions

 

Weekly Tips

Reopening Filing Submissions

5/14/2015

On occasion company filers may need to have their Insurance Compact filing submissions reopened for various reasons.  There are a few key steps that we would like to highlight in order to make the reopen process more efficient for all parties involved. 

A Note to Reviewer should be submitted detailing the reason for reopening the Insurance Compact submission.  We would ask that you please submit the Note to Reviewer only after you are ready to make the updates or amendments to the filing submission. Filers often ask for a filing submission to be reopened when they have identified the action they wish to take, but before the supporting material is ready to be added to the filing. This may be because filers are uncertain about how quickly the reopen request will be completed. Reopening a filing submission is very quick; once the request has been made the Intake Coordinator or the Product Reviewer will reopen the filing submission within 12 hours of receiving the request. If the filing is reopened before the amended documentation or updates are ready to submit, then this creates unnecessary work in the way of documented reminders and notes for all parties involved.

The most common reasons for reopening a filing submission are to make updates to the Statement of Intent (SOI) and then the addition of Foreign Language translation certifications.  If the filing is being amended to provide updates to the SOI, Foreign Language translation certifications, or to correct typographical or formatting errors, no IIPRC amended filing fees are required. All other amendments to a previously-approved filing require an amended filing fee.  Review the IIPRC Schedule of Fees located on the Insurance Company Resources page of the website for more information regarding the amended filing fees.

We hope that this information is helpful and provides guidance regarding reopening filing submissions. If you have any questions please contact the Insurance Compact's office and we will be more than happy to answer any questions that you may have as you prepare to amend your filing.