Announcement Regarding Insurance Compact Auto-Calculation in SERFF
Working with the SERFF Team, the Compact Office has determined it is best to temporarily halt the auto-calculation of the Compact filing fees effective on Wednesday, August 6th. The auto-calculation of the Compact fees will be disabled until the fees are calculating correctly, so that new compliance issues are not being generated on auto-calculated fees. We apologize for this inconvenience. The primary reason that auto-calculation was not reliable is the additional forms fee that was effective on January 1st of this year, after the auto-calculation module was developed.
We do not currently have a timeline for when auto-calculation is expected to resume and be reliable across the universe of Compact filing variables. But we do already have a service, Advanced Filing Fee Calculation, which avoids the filer having to calculate Compact and state fees. More information regarding the new fees and the Advanced Filing Fee Calculation Service can be found on the Industry Resources page of the website.
If you have any questions, please contact the Compact Office.
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