The Annual Standards Prioritization Process
Curious as to how the Uniform Standards come to be? This week, we can provide you with a snippet of the collaborative process that results in each year's standards development workplan.
In 2021, the Insurance Compact started an annual process to collect recommendations from stakeholders as to which uniform standards should be developed. This is known as the Annual Uniform Standards Identification and Prioritization process. Here are the steps in the process:
- April - The Compact Office issues a notice to all interested parties asking for requests and comments on the development of new standards or proposed amendments to current standards. A form is used to collect each request in a uniform manner.
- June 30 - Due date for requests
- Third quarter - Product Standards Committee reviews requests for inclusion in the Annual Prioritization List and issues recommendation
- Annual Meeting in fourth quarter - Commission considers and adopts Annual Prioritization List.
This entire process is a part of the larger Uniform Standards Development Guidelines adopted by the Compact in 2022. The Compact Office publishes the comments received on the website, specifically under Documents on the Product Standards Committee webpage – 2024 Annual Identification Requests for Uniform Standards Development.
Want to know the available Uniform Standards the Compact has adopted? Review this comprehensive list of the Uniform Standards organized by product line.
Curious to learn more about this process? Check out the webinar scheduled for Wednesday, November 1st – Creating and Amending Uniform Standards.
If you have any questions, please contact the Insurance Compact Office