FOR IMMEDIATE RELEASE


IIPRC ANNOUNCES FOCUS GROUP FORMATION

WASHINGTON, D.C. (April , 2016) - The Interstate Insurance Product Regulation Commission (IIPRC) is actively forming a new Focus Group comprised of current registered users and is seeking requests from persons interested in participating in this effort.

The Focus Group will provide feedback on the Compact product filing process and experience, including discussing the impact for companies in filing through the Compact and suggestions for continued improvement of the Compact filing process. The Focus Group will also provide input on how to enhance communications to external parties on the benefits of using the Compact’s one-stop uniform filing platform.

The Focus Group will consist of twenty (20) members broken into two groups. Participants from previous Focus Groups are welcome to indicate their interest in participating in this new Focus Group. A member from the IIPRC’s Legislative Committee, and the Consumer and Industry Advisory Committees will be invited to participate in the bi-weekly conference calls as well.

The Focus Group will be broken into two subgroups. One subgroup will meet on Tuesdays and the other will meet on Thursdays via conference call and if necessary, webinar. The time commitment for participation in the Focus Group is expected to be 8 to 10 hours over the course of 2 months. Applicants interested should be available to meet on a bi-weekly basis on either Tuesday or Thursday. The Focus Groups will begin meeting on Tuesday, May 17th through July 26th at 3 pm ET / 2 pm CT / 1 pm MT / 12 pm PT and on Thursday, May 19th through July 28th at 1:30 pm ET / 12:30 pm CT / 11:30 am MT / 10:30 am PT.

If you are interested in participating in this Focus Group, please send an e-mail to Comments@insurancecompact.org by April 27th identifying your organization and providing an explanation of the reasons you are interested in participating in the Focus Group.

About the Commission

Currently, 44 jurisdictions have joined the Interstate Insurance Product Regulation Commission (IIPRC). Compacting members are Alabama, Alaska, Arizona, Arkansas, Colorado, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, 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 consumers.

For more information, visit www.insurancecompact.org.

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