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What is compact filing?

What is compact filing?

Once a Uniform Standard is adopted, the Insurance Compact serves as the central point of electronic filing, review, and approval for these insurance products. The Insurance Compact is revenue-neutral for state budgets. State filing fees are collected and remitted electronically for all Compact filings.

Are serff filings public?

As of July 29, 2009, the SERFF system filings also became available through the WARFF system. Filings made by Advisory Organizations are available to the public, but can only be viewed at our Oakland and Los Angeles Public Viewing Rooms.

What states are not in the insurance compact?

The Interstate Insurance Product Regulation Compact is an interstate compact among 44 states, Washington D.C., and Puerto Rico. Only California, Delaware, Florida, New York, North Dakota and South Dakota are not members.

What is the purpose of the Interstate Insurance Product Regulation Commission?

Its mission statement is to “serve[] insurance regulators, consumers and providers by improving the efficiency and effectiveness in the ever-changing insurance marketplace.” It serves as a clearinghouse for insurance companies’ policy form filings.

What part does the Interstate Insurance Product Regulation Commission Iiprc play in insurance regulation?

The Interstate Insurance Product Regulation Commission serves insurance regulators, consumers, and providers by improving the efficiency and effectiveness in the ever-changing insurance marketplace.

What two entities endorsed the Interstate Insurance Product Regulation Compact?

The Compact Statute is based on a model law developed and adopted by the National Association of Insurance Commissioners (NAIC), an organization of chief insurance regulators in the 50 states, the District of Columbia and the five U.S. territories, and endorsed by the National Conference of State Legislatures (NCSL) …

What is a serff filing?

The System for Electronic Rate and Form Filing (SERFF) is a smart Internet application designed to provide an efficient process for rate and form filing. The NAIC Membership has established SERFF as the premier vehicle for rate and form filing.

Is California a file and use state?

Title. Title rate and forms filings are considered file and use. A Title filing must be received by the Department at least 30 days prior to its effective date.

What does ICC stand for in life insurance?

Interstate Commerce Commission (ICC)

Who administers the insurance laws of Florida?

The Bureau of Licensing administers the insurance laws, rules and regulations relating to license qualification, pre-licensing and continuing education.

What is ISOnet?

ISOnet is a secure, password-protected Web site launched last year for insurance company clients. For more information on agent access to the ISOnet system and GUS, call ISO customer service at 800-888-4476 or e-mail ISO at [email protected]

What is form filing in insurance?

Filed Forms — insurance policies that have been approved by the state insurance department and that are required in a state where the risk is located for certain types of coverage.