Annual Report

 

Annual Report

Insurance Compact Annual Report

Annual Report

The 2019 Annual Report highlights the success of the Insurance Compact’s thirteenth year. The District of Columbia began accepting product filings at the start of an unprecedented year for the number of registered companies and volume of product filings. Due to the statutory requirement to update the Commissioner’s Standard Ordinary (CSO) by January 1, 2020, the Insurance Compact saw tremendous filing growth in 2019.

Throughout 2019, the Insurance Compact members, legislators, consumer and industry representatives worked on drafting and adopting the Insurance Compact Compass - Strategic Plan: 2020-2022. The Compass has three overarching priorities, each with three objectives and several action items, for a total of 28 action items. As the Insurance Compact proceeds in achieving the action items identified in the Compass, updates will be published to the Strategic Plan page of the Insurance Compact website.

The Insurance Compact’s Annual Report emphasizes the continued progress and success due to the commitment and hard work of the members and their staff, with the involvement of state legislators, companies, and consumer and industry representatives.