Weekly Tip: Update on Connecticut

 

Weekly Tips

Update on Connecticut

7/20/2017

Connecticut is now available to add to product filing submissions and we are seeing a lot of filing activity connected to the 45th Compact member state. Several companies took advantage of the first day to add Connecticut – more than 350 submissions have been updated to include Connecticut. In this week’s Weekly Tip, we will highlight a few ways to make the process of adding Connecticut to your filing submissions more efficient.

We are seeing one issue in particular delay the acknowledgement of Connecticut on previously approved filings: lack of information about the filer’s intent to Mix and Match Connecticut-specific forms. If you are adding Connecticut to a filing submission that was originally filed as Mix and Match, then one of two things must happen:

  • If the SOI has to be updated to reflect Connecticut-specific forms, the company filer must submit a Note to Reviewer requesting that the filing be re-opened for the purpose of updating the SOI to reflect the Connecticut forms being used.
  • If the SOI does not need to be updated because there will be no Mix and Match with Connecticut-specific formswe ask that you send a Note to Reviewer indicating that the SOI does not need to be updated, as the company will not be utilizing Mix and Match of Connecticut forms with the Compact-approved forms.

If the filing already uses Mix and Match, we assume it will also use Mix and Match for Connecticut and will ask you to clarify before acknowledging the addition of Connecticut. Connecticut will not be acknowledged by the Insurance Compact on a Mix and Match filing submission until the information pertaining to the SOI is provided.

A few other pointers about adding Connecticut to Compact filings:

  • Status of filing – States may only be added to submissions that are either “Closed-Approved” or currently pending review with the Insurance Compact. Connecticut may not be added to filings that are “Closed-Withdrawn.”
  • Annual registration – A company must be currently registered with the Insurance Compact to add Connecticut to a filing. If your company is not registered for 2017 and you wish to add Connecticut, you must first submit the registration submission, and then you may add Connecticut to the filing submissions that are “Closed-Approved.”
  • Filing fees – Connecticut is a purely retaliatory state. There are no Insurance Compact filing fees for adding Connecticut to the filing submission, but depending on your domiciliary state, you may owe state fees.

Keeping these items in mind when you add Connecticut to your filing submission will make the process more efficient. If you have any questions regarding this Weekly Tip or about the Insurance Compact, please contact the Insurance Compact Office.