Interstate Insurance Product Regulation Commission - Logo Go to IIPRC Home Page Go to About the IIPRC Page Go to IIPRC Contact Page Go to IIPRC Help Page
Docket-Developing Standards Record-Adopted Standards Consumer Resources Insurance Company Resources Regulator Resources
Compact History
Commission Member States
IIPRC Officers and Management Committee
Legislative Committee
Actuarial Working Group
Audit Committee
Communications Committee
Finance Committee
Product Standards Committee
Rulemaking Committee
Technology Committee
Consumer Advisory Committee
Industry Advisory Committee
National Association of Insurance Commissioners
National Conference of State Legislatures (NCSL)
National Conference of Insurance Legislators (NCOIL)
Information on Interstate Compacts


The Interstate Insurance Compact (“Compact”) is an important modernization initiative that benefits state insurance regulators, consumers and the insurance industry. The Compact enhances the efficiency and effectiveness of the way insurance products are filed, reviewed and approved allowing consumers to have faster access to competitive insurance products in an ever-changing global marketplace. The Compact promotes uniformity through application of national product standards embedded with strong consumer protections.

The Compact established a multi-state public entity, the Interstate Insurance Product Regulation Commission (IIPRC) which serves as an instrumentality of the Member States. The IIPRC serves as a central point of electronic filing for certain insurance products, including life insurance, annuities, disability income and long-term care insurance to develop uniform product standards, affording a high level of protection to purchasers of asset protection insurance products.

The Compact is good news for both consumers and insurers. Consumer protection is the hallmark of the state-based regulatory system. Insurers may continue to rely on the extensive expertise of the states in reviewing complex products. State insurance regulators believe the state-based IIPRC is the preferred solution to enhance speed-to-market efficiencies while continuing to provide insurance consumers with strong and established protections.

Since meeting its operational threshold in May 2006, the IIPRC now has 43 Member States representing approximately two-thirds of the premium volume nationwide.The Management Committee Members currently include the six largest Compacting States according to premium volume: Texas, Pennsylvania, New Jersey, Illinois, Ohio and Michigan; four states with at least 2% of the premium volume: Massachusetts, Missouri, Maryland, and Wisconsin; and one additional state from each of four regional zones, Tennessee, Oregon, Nebraska, and New Hampshire. Additional Members of the Compact include: Alabama, Alaska, Arkansas, Colorado, Georgia, Hawaii, Idaho, Indiana, Iowa, Kentucky, Louisiana, Maine, Massachusetts, Minnesota, Montana, Nebraska, Nevada , New Mexico, Oklahoma, Oregon, Puerto Rico, Rhode Island, South Carolina, Tennessee, Utah, Vermont, West Virginia and Wyoming.

The following provides a highlight of achievements and outlines continuing plans of the IIPRC.

  • June 2006: Inaugural Meeting of IIPRC in Washington, DC. Under the motto banner of “States, Strength and Speed Aligned”, the IIPRC Members reaffirm their commitment to modernize state-based insurance regulation to meet the needs of the evolving global insurance marketplace while continuing to uphold strong consumer protections.

  • July through December 2006: IIPRC established its operational foundation through extensive consultations with regulators, legislative representatives, consumers, and industry in developing and adopting the Bylaws. The IIPRC held the First Annual IIPRC Meeting in Lansdowne, VA. The first Uniform Standards were adopted within the initial six (6) months of operation The IIPRC Legislative Committee named its leadership and worked as an active partner to oversee the progress of the IIPRC.

  • First Half of 2007: IIPRC hired an Administrative Coordinator to manage the administrative requirements and vital public notice platforms; and elected Officers from West Virginia, Michigan and Minnesota.. Additional work was completed on the System for Electronic Rate and Form Filing (SERFF) which allows companies to electronically file their products with the IIPRC; and a state filing fee collection structure was established to ensure that all proper state fees are collected on behalf of the Member States. The IIPRC seconded an interim product filing examiner from a Member State to review anticipated Compact filings.

  • Second Half of 2007: First Filings Received. The IIPRC has 11 individual life Uniform Standards in filing effect for June. Upon adopting its “Product Filing Rule”, the IIPRC opened for business and received its first product filings by insurers on target with its mid-2007 time frame. The IIPRC approved the first product filings received in under 30 days. The IIPRC adopted a Compact filing fee structure as the Compact Statute provides that the IIPRC shall be funded by filing fees. The Commission held its Second Annual Meeting and elected officers from West Virginia, Ohio and Minnesota to serve during the remainder of 2007 and 2008; as well as adopting nine (9) more standards to bring the total Uniform Standards to 36.

  • Spring 2008: Experienced Regulators and Actuary join the IIPRC team. Annual Registration Fees are instituted and collected from companies who wish to file with the IIPRC. IIPRC Code of Ethics is adopted. The IIPRC continues to adopt additional Uniform Standards, outreach to more States to join the Compact, and encourage insurers to utilize the IIPRC central point of product filing.

  • Summer into Fall 2008: Additional States join the Compact to bring the premium volume represented to over one-half of the premium volume nationwide. Additional Uniform Standards are developed and are in effect, bringing the total at the end of 2008, to 46 Uniform Standards. IIPRC Members adopt Communications/Marketing Strategy.

  • Spring 2009: Mississippi becomes 34th member state to enact the Compact Legislation and will become an effective member on July 1, 2009. New Mexico becomes 35th member state to enact the Compact Legislation and will become an effective member on June 19, 2009.

  • Summer 2009: More Uniform Standards become effective in both the life and annuity product lines, bringing the total to over 50 Uniform Standards in effect. Missouri becomes the 36th member state to enact the Compact Legislation and will become an effective member on August 28, 2009. Additional states expected to adopt the Compact Legislation.  The “Product Filing Rule” was amended to eliminate the two-year time frame associated with the “mix and match” filing process.

  • Spring 2010:  The IIPRC exposes the full-suite of individual Long-Term Care Insurance Uniform Standards for public comment.  The IIPRC convenes an in-person meeting in May for the purpose of receiving comments on the Long-Term Care Rate Uniform Standards. 

  • Summer 2010:  The IIPRC adopts the full-suite of individual Long-Term Care Insurance Uniform Standards.  With the adoption of these Uniform Standards, the IIPRC is now able to receive filings in three (3) individual product lines – life, annuity and long-term care.   The Uniform Standards will be in effect on December 1. 

  • Fall 2010:  The IIPRC amends the “Filing Fee Rule” to change the definition of Regional Filers as well as adopts a Schedule of Fees that will be adopted on an annual basis along with the IIPRC’s Annual Budget.   The IIPRC convenes its fourth Annual Meeting and elects Ohio, New Hampshire and Wisconsin as its Officers. 


Home | Contacts | Help | Privacy Statement
© 2005 - 2014 Interstate Insurance Product Regulation Commission. All Rights Reserved