Top 5 Filing Information Notices You May Have Overlooked

In this weekly tip, we thought we would share a list of the top five most-frequently referenced Filing Information Notices (FINs) issued by the Insurance Compact Office. FINs are a key resource for Compact filers, and should be used when preparing Compact product filings to enhance the compliance of a filing and minimize objections and review time.

FINs are documents issued by the Insurance Compact Office to provide guidance, instruction, and best practices in order to facilitate the submission of compliant product filings to the Insurance Compact. FINs are not rulemaking, but serve to provide further explanation and clarification for filing and review in order to implement existing rulemaking documents such as Operating Procedures, Uniform Standards, and Actuarial Requirements contained in the Uniform Standards. A FIN serves to "flesh out" the details, most often the procedural details of proper filing preparation in SERFF. Read on for a list of the five most-frequently referenced FINs:

  1. FIN 2017-1: Process for Revisions to Forms and Supporting Documentation in Compact Filings
    This FIN addresses revising pending and approved Compact products, as well as state fees due for Supporting Documentation Update filings. It is so frequently referenced that we created two appendices for it, along with an FAQ. We have also issued several weekly tips that break out various types of filing updates addressed in the FIN. This FIN is a desktop reference for proficient Compact filers.
  2. FIN 2016-1: Filing Process to Effectuate the 2017 Commissioners Standard Ordinary (CSO) Mortality Table
    This FIN details options for implementing the 2017 CSO Mortality Table for Compact products. In conjunction with FIN 2017-1, this reference will answer all of your questions regarding how to update your Compact products to incorporate the 2017 CSO Mortality Table. The Insurance Compact Office offered a webinar to explain FIN 2016-1 in greater detail; the webinar slides continue to be a key resource for filers.
  3. FIN 2017-2: Individual Long-Term Care Filings
    FIN 2017-2 provides comprehensive filing guidance for individual long term-care (ILTC) Compact filing submissions, and was updated in October of 2017 to reflect the Five-Year Review amendments that became effective on October 10, 2017. Most ILTC product and advertising submissions receive at least one objection on a requirement specifically addressed in this FIN.
  4. FIN 2018-1: Individual Disability Income Insurance Filings
    This FIN was reissued to reflect the amendments that became effective on November 19, 2018. FIN 2018-1 includes filing procedures for stand-alone products and newly reviewable DI riders, including for application form filings, rate revision filings, and Mix and Match filings.
  5. FIN 2008-6: Supplemental Information -Disclosures/Illustrations/Illustrations Certificates
    If you have questions about filing supplemental information with your Compact products, this two-page FIN is not to be missed. Frequently referenced and easily overlooked, the Insurance Compact Office urges Compact filers to read through this FIN before making your next filing.

If you have any questions about Filing Information Notices, or about filing with the Insurance Compact in general, please contact the Insurance Compact Office.

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