Insurance Compact SERFF State Status Definitions
As a product filing moves through the Compact review process, the Compact Team uses some state statuses. The purpose of these statuses is to help convey where the filing is in the review process.
Here are the definitions of the State Status used –
• Ready for primary review – means Intake has been conducted.
• Ready for expedited review – means intake has been conducted.
• Primary Review Complete – means form review complete
• Pending Actuarial Review – means form review complete, actuarial review pending
• Actuarial Review Complete – means actuarial review complete
• Pending Industry Response – means exactly this
• Awaiting Secondary Review – means the form and actuarial review has been completed
• Secondary Review Completed – means ready for a disposition to be entered
• Agreed Written Extension – means exactly this
Intake Review is the preliminary stage all filings undergo when submitted to the Compact. It ensures a filing is ready to be reviewed by the Compact Team.
Form Review is the review of the forms and supporting material included on the filing submission.
Actuarial Review is the review by the Compact actuaries of the actuarial submission requirements.
Secondary Review is the final review conducted by the Compact Team to ensure best practices were followed throughout the review process so a disposition can be entered.
If you have any questions, please contact the Insurance Compact Office.