IIPRC MARKS MILESTONE WITH 100TH COMPANY
Commission Also Introduces Enhanced
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.
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
For more information, visit www.insurancecompact.org.