Weekly Tip: Updates to SERFF for Insurance Compact Filings

 

Weekly Tips

Updates to SERFF for Insurance Compact Filings

8/27/2015

You may have already noticed the recent updates made in SERFF for the Insurance Compact.  In the last updates made to SERFF on August 6th, language was added to Step #4 of the Filing Wizard. 

Company filers will now see a yellow text box with an important reminder when they are to select the correct filing type.  This reminder was added as a benefit for all filers to make sure that only the state(s) the company is licensed to do business in is included in the submission.  You may also notice that it is “interactive”.  Once the filer has selected the correct filing type, the font shrinks in size and becomes less prominent on the page.  The filer will then still be required to scroll down the page and carefully review all selected states before continuing on to the next step in the Filing Wizard. 

Step 4

Additionally, at Step # 5 company filers will see another yellow text box reminding all filers to carefully review the included state(s). After “Save and Continue” is selected at this point, no further edits may be made to the inclusion of the states in the product filing submission.  

Step 5

If the submission is a multiple-company submission, Step # 7 requires the filer to match companies with states, according to the proper company license for each state. Although the filing is being made to the IIPRC, the filer must still indicate which companies apply to the selected participating states. While all participating states appear as options for selection, only select those states in which each company is licensed.

Step 7

Should any errors be made with regard to the inclusion of the states, please contact Sara Dubsky in the Insurance Compact Office.  We hope that you find this information to be useful and if you have any questions regarding this particular Weekly Tip or the Insurance Compact, please contact the Insurance Compact office.