Kansas City, MO (August 2) – The interim Management Committee of the Interstate Insurance Product Regulation Commission (Commission) voted to publish a draft of its proposed bylaws for public notice and comment. The committee met via an open conference call today. Members also voted to publish the proposed rulemaking process for the Commission. During the next 30 days, the public is invited to provide comment on both proposals.

• Proposed Bylaws of the Interstate Insurance Product Regulation Commission
• Rule for Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission

The full Commission will also hear public comments during its next scheduled meeting on September 12 in St. Louis. The meeting will be held from 1:00 p.m. to 3:00 p.m. at the Renaissance Grand Hotel, (Room: America’s Center 260), 800 Washington Avenue.

Written comments from the public are due by September 2, 2006. Participants who wish to address the Commission on September 12 must register by September 2. Written comments and requests to address the Commission may be emailed to: news@insurancecompact.org or mailed to the Commission c/o Karen Schutter, 2301 McGee Street, Suite 800, Kansas City, MO 64108-2662.

The interim Management Committee discussed several business items during today’s call, including the search for an executive director, the development of product standards, and the creation of a new Web site.

About the Interstate Insurance Product Regulation Commission

Currently, 27 states have joined the Interstate Insurance Product Regulation Commission. The compacting states are Alaska, Colorado, Georgia, Hawaii, Idaho, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Minnesota, Nebraska, New Hampshire, North Carolina, Ohio, Oklahoma, Pennsylvania, Puerto Rico, Rhode Island, Texas, Utah, Vermont, Virginia, Washington, West Virginia and Wyoming.

The Commission enables state regulators to develop uniform national standards for asset protection insurance products, such as life insurance, annuities, disability income and long-term care insurance. The Commission 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 consumers.

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