Weekly Tip: Sister Company Submissions

 

Weekly Tips

Sister Company Submissions

6/18/2014

One of the benefits of the Insurance Compact is that we do allow multiple company submissions. You will want to keep this in mind as you prepare a filing submission that contains forms to be used by more than one company. You can either submit them in a single submission for each company in tandem or in a submission that incorporates both companies.

If you decide to submit tandem filings for each company, you need to mention that these forms in the filing are substantially similar to the forms in a sister-company filing submission. This is to ensure that you receive the most efficient review for your product. If the tandem filings are submitted and noted that they are tandem filings, the review can take place simultaneously by one reviewer. A simultaneous review is a huge benefit for you in that you can address any possible objections in both filings at once and reduce your time with the Insurance Compact by half.

More information multiple company submissions may be found in a previous Weekly Tip. The Weekly Tips are archived on the Insurance Company Resources page of the Insurance Compact's website. Check out May 2013 for the Multi-Company Submissions tip.

If you have any questions about this Weekly Tip or the Insurance Compact, please contact the Insurance Compact office.