IIPRC - Insurance Compact

  • IIPRC - Interstate Insurance Product Regulation Commission - Insurance Compact
  • NCOIL collaborated with the NAIC and the NCSL to develop a successful Interstate Insurance Product Regulation Compact, IPRC, a speed to market vehicle for life insurance products now in force in 41 jurisdictions.

2011 0728 and 1025 - GOV (House) - Insurance Oversight: Policy Implications for U.S. Consumers, Businesses and Jobs - Part 1 (2011 0728), Part 2 (2011 1025) - [PDF-285p,

  • Mary Mealer - the Product Standards Committee (PSC) Chair - <Dates?>
    • Public Call Summary - April 24, 2018
  • Insurance Compact - Product Standards Committee Call Summaries - [link]
  • Product Standards Committee (PSC) - 
  • Member Call Summary
  • Minutes of the Meeting of Management Committee
  • table of death benefit factors
  • Statement of Variability
  • Variability of Information
  • SLIMPACT Model - Lite
    • SURPLUS LINES INSURANCE MULTI-STATE COMPLIANCE COMPACT
  • 2016 1130 - Consumer Protection Under Interstate Insurance Product Regulation Compact And California Insurance Law - A Comparative Study Pursuant to California Insurance Code Section 10191.5 - 12p
  • insurancecompact.org
    • insurancecompact.org/record-adopted-standards
      • IIPRC-L-07-I-5 - Individual Current Assumption Whole Life Insurance Policy Standards - 35p
        • These types of policies are sometimes identified as “interest sensitive life” or “fixed premium universal life”.
      • Individual Non-Variable Adjustable Life Insurance Product Line
        • IIPRC-L-09-I - Individual Flexible Premium Adjustable Life Insurance Policy Standards - 41p
          • These standards do not apply to any life policy with a required scheduled premium, a 31-day grace period, reduced paid up, and/or extended term nonforfeiture benefits.
          • These types of policies are usually identified as “current assumption whole life,” “interest sensitive whole life” or “fixed premium universal life.”
          • These standards also do not address survivorship coverage, externally indexed policy features (other than with respect to a variable loan interest rate), return of premium benefits, policies with market value adjustments, or variable policies.
    • insurancecompact.org/history
      • CARFRA (Coordinated Advertising, Rate and Form Review Authority)
      • 2002 12 - NAIC adopted the initial Interstate Insurance Compact Model in December 2002 with the understanding that it would be a starting point for discussion with state legislators, attorneys general, governors, and other stakeholders.
      • System for Electronic Rate and Form Filing (SERFF)
      • Throughout 2008, the Insurance Compact Office worked with the Members and interested parties to develop Uniform Standards through extensive public notice and participation processes. At the end of 2008, the Commission had in effect 46 Uniform Standards.
  • NAIC

Minutes of the Meeting of Management Committee

  • 2008 1222 – Insurance Compact - Teleconference Meeting Of The Management Committee Of The Interstate Insurance Product Regulation Commission (IIPRC) - 3p
  • 2009 0223 - Insurance Compact - Teleconference Meeting Of The Management Committee Of The Interstate Insurance Product Regulation Commission (IIPRC)  - 6p
  • 2018 1218 - Insurance Compact - Insurance Compact Product Standards Committee, Member Call Summary - 4p
    • The PSC reviewed the ACLI comments under Benefit Provisions in §3A (1) and agreed it would add clarity to include requirements for adjustable life and whole life separately:
  • 2019 0219 - Insurance Compact - Product Standards Committee, Member Call Summary - 3p
  • 2021 05 - Insurance Compact - Suggestions for Additional Life Uniform Standards/Provisions - Items Remaining from the 2018 List - 3p