What Happens When - Expedited Time Requirements
To maintain eligibility in the expedited queue, adhering to time requirements is critical. The expedited review program is built on mutual pledges of accelerated handling of high-quality filing submissions. We want to bring to your attention updates to two of the expedited review program time requirements. These updates are being made to more equitably align timing of expedited review filing intake and review time for filers and the Compact Office.
Upon notification of entering the expedited queue, the filing and applicable fees need to be submitted within one (1) business day. If the company does not submit the filing or fees by the end of that period, the next filer on the waitlist will be offered that spot in the queue. The other company will then be notified when the next spot becomes available. If after the second notification the company is still not able to comply with the time requirements, it must submit a new expedited review email request to be considered for expedited review. All expedited review email requests are on a first come, first serve basis, and are based on the date and time (CST) of the company’s expedited review email request. This change shortens the period for submitting the expedited review fee and filing to align with the timeline being followed by most filers using the expedited review process.
Time requirements are also critical during product review. A filer has three (3) business days to respond to any objection letters. Not responding during the appropriate time jeopardizes your ability to remain in expedited status. Likewise, the Compact now has three (3) business days in which to review objection responses (it was previously 2). Please keep these time requirements in mind to ensure your company’s success in utilizing expedited review.
If you have any questions about the expedited review program, or about the Insurance Compact in general, please contact the Insurance Compact Office.