Interstate Insurance Product Regulation Commission


The IIPRC has adopted 100 Uniform Standards covering a wide variety of individual and group product lines and benefit features for Compact-authorized products. This includes individual and group life insurance, annuities, long-term care insurance and individual and group disability income insurance. Life insurance companies and fraternals use the IIPRC allowing them to realize the benefits of uniformity between states.

The Interstate Compact has now been enacted in 45 jurisdictions.  The states which may currently be included in filings are: Alabama, Alaska, Arizona, Arkansas, Colorado, Connecticut, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Maine, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, North Carolina, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, Washington, West Virginia, Wisconsin and Wyoming. Connecticut's membership is effective July 2017. The 45 compacting states represent more than 75 percent of the premium volume written nationwide.

Filings may be made for any product for which Uniform Standards have been adopted. States may opt-out of specific Uniform Standards. Arizona, Hawaii, Indiana, Montana, and New Jersey have opted out of long-term care insurance standards.  Colorado, Illinois, Maryland, Oklahoma, Oregon & Washington will not permit use of modified rate schedule for long-term care insurance.

Montana has opted out of the individual disability income standards. Montana and Wyoming, have been granted a Stay of Effectiveness as they work to opt out of the group disability income standards, and therefore are not eligible for inclusion such product filings.

While it did not opt-out of the uniform standard, the state of Washington has issued a statement that it will not accept mix and match filings that involve the Return of Premium Standards.   The state will recognize IIPRC approved filings that include a Return of Premium feature, provided there is no mix and match involved.

The IIPRC does not have rate authority with regards to life and annuities.  Companies still need to comply with Montana's unisex requirement but can file their life and annuities products and forms through the Compact.
In addition, a number of Operating Procedures have been adopted by the IIPRC.  These set out the IIPRC rulemaking process, how filings are to be made, public access to filings, foreign language translations and appeals procedures, among other things.

The IIPRC requires companies register and pay an annual fee in order to make compact filings.

The IIPRC also charges a fee for each filing submitted.  The filing fee varies based on type of product. These fees will be in addition to state filing fees, which will continue to be payable.

The headquarters of the Interstate Insurance Product Regulation Commission are in the District of Columbia.

The Management Committee of the IIPRC, which manages the affairs of the Commission, is made up of representatives of the member states.  The Management Committee Members include the six largest Compacting States by premium volume, four mid-size states by premium, and one additional state from each of four regional zones.

Filings are to be approved or disapproved within 60 days, subject to certain limitations.

First  Consulting  makes filing with the IIPRC under all the Uniform Standards for all sizes of insurers.  Contact us with your Interstate Compact questions.