IIPRC NOW ACCEPTING 2011 ANNUAL REGISTRATION
WASHINGTON, D.C. (Dec. 9,
2010) - The Interstate Insurance Product Regulation
Commission (IIPRC) is now accepting 2011 Annual Registration Fees.
Companies paying their IIPRC Annual Registration Fee on or before
January 1, 2011 can continue to file without disruption.
noted in the Terms and Procedures for IIPRC Filing Fees, the IIPRC
Annual Registration Fee is due at the start of the calendar year.
All filers must register in order to utilize the IIPRC's one-stop
filing platform. The Annual Registration Fee is $5,000 and $2,500
for Regional Insurers.
The IIPRC provides a central point of
electronic product filing on behalf of all 36 members, which include
35 states and Puerto Rico. By using the IIPRC, companies can submit
one filing under one set of Uniform Standards, for one review and
approval in under 60 days. Companies are currently able to file
products corresponding to 69 Uniform Standards including individual
life, annuity and long-term care insurance products. In 2011, the
IIPRC will continue to adopt and implement additional uniform
standards for individual annuity, long-term care and disability
The Commission anticipates welcoming new member
states over the coming weeks and months and has started accepting
individual long-term care insurance product filings. The
Commission has also revised its registration and filings fees for
regional insurers, allowing companies that file in 12 or less states
to utilize the benefits of the IIPRC at a lower price point.
Companies are encouraged to renew or pay their Annual
Registration Fee by January 1, 2011.
to access a copy of the Schedule of IIPRC
for information on submitting the 2011 Annual Registration
Currently, 36 jurisdictions have joined the Interstate
Insurance Product Regulation Commission (IIPRC). Compacting members
are Alaska, Colorado, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas,
Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan,
Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, New
Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, Puerto Rico,
Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont,
Virginia, Washington, West Virginia, Wisconsin and Wyoming.
The IIPRC enables state insurance
regulators to develop uniform national standards for asset
protection insurance products, such as life insurance, annuities,
disability income and long-term care insurance. The IIPRC
establishes a central filing point for these insurance products,
enhancing the speed and efficiency of regulatory decisions and
allowing companies to compete more effectively in the modern
financial marketplace, while continuing to provide protection for
For more information, visit www.insurancecompact.org.