Weekly Tip: Selection of States

 

Weekly Tips

Selection of States

4/30/2015

This week we would like to remind all company filers about a very key important step in the creation of your filing submission - the selection of states.  A company filer should select only states where the company is authorized to do business.

During the creation of the filing submission Step 7 is where the company’s authority to do business in a state is reflected. In this particular step, the filer must indicate which companies apply to the selected participating states.  Please note that all states available for the selected TOI are included in the filing and the filer is responsible for removing the state(s) that should not be included on the filing.  To do so, simply uncheck the applicable state(s).  A snippet of what you will see in Step 7 follows.

The IIPRC does not verify whether a filer is properly licensed in the state(s) included on the filing. It is the obligation of the filer to select only those states where it has the proper authority to business for the applicable product filing. If in doubt, please do not include the state in the filing submission. One of the benefits of utilizing the Compact for filing submissions is the ability to add states easily and with no additional IIPRC review fee.  It is very important to remember that even though you are submitting the filing through the Insurance Compact, this does not mean that you are permitted to include the states in which you are not licensed to do business. 

If you have any questions regarding this process or the Weekly Tip, please contact the Insurance Compact Office.