FOR IMMEDIATE RELEASE


IIPRC MARKS MILESTONE WITH 100TH COMPANY REGISTRATION
Commission Also Introduces Enhanced Educational Resources
 

WASHINGTON, D.C. (July 20, 2010) - The Interstate Insurance Product Regulation Commission (IIPRC) reached a major milestone today with the receipt of its 100th company registration for 2010. 

"We are excited about the significant growth in the number of companies utilizing the IIPRC's centralized filing platform," said Mary Jo Hudson, IIPRC Chair and Ohio Insurance Director. "Many companies have told me after making their first filing and receiving an approval with the IIPRC that they wished they had taken advantage of the opportunity much sooner."

By registering with the IIPRC, companies can experience the benefits of preparing one filing, under one set of detailed Uniform Standards, for one submission subject to one thorough review and approval in up to 36 member jurisdictions within 60 days or much less. Effective July 1, companies can now take advantage of the prorated Annual Registration Fee of $2,500 and immediately experience the benefits of filing with the IIPRC for the remainder of the year.

The IIPRC is also pleased to announce the release of three on-demand, web-based tutorials. These self-guided tutorials provide an overview of the IIPRC as well as specific information on how to create and submit a product filing. Companies interested in learning more about how easy it is to file with the IIPRC can visit the Commission’s website.

Click HERE to view the tutorials.

About the Commission

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 consumers.

For more information, visit www.insurancecompact.org.


 

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