Montana Law Change - How to Address in Pending and New Product Filings
Last week the Insurance Compact Office issued a Weekly Tip addressing the Montana law change for previously approved Compact products. This Weekly Tip addresses the Montana law change for pending and new product filings. Montana can be included on pending and new filings containing sex-distinct products as long as the filing documents that the forms will not be issued sex-distinct in Montana earlier than January 1, 2022. This documentation can appear under the Filing Description section of the General Information tab, under the Sex-Distinct or Unisex Policies submission requirement, as a Post-Submission Update or as a Note to Reviewer. Effective January 1, 2022, filing documentation indicating how products will be issued on a unisex basis in Montana will no longer be required and the Montana confirmation statements will be eliminated from the Sex-Distinct or Unisex Policies submission requirement.
If you have any questions regarding this Weekly Tip, please contact the Insurance Compact Office.