Arizona Becomes Member of the Interstate Insurance Product Regulation Compact
Governor Jan Brewer signed HB 2482, making Arizona the 44th jurisdiction to become a member of the Interstate Insurance Product Regulation Compact. Under the Compact, the Interstate Insurance Product Regulation Commission (IIPRC) develops and implements uniform national standards for the review of certain insurance products, including life insurance, annuity, disability income and long-term care insurance products. The Compact now serves as a central point of review of electronic filings in Arizona for these products, with the exception of long-term care filings. Arizona opted out of Compact filing review for long-term care insurance products.
HB 2482 became became effective July 24, 2014. Inclusion of Arizona in Compact filing review will begin on August 7, 2014.
For more information about the Compact and the IIPRC, go to http://www.insurancecompact.org.
If you have questions concerning life, annuity or health form filings for Arizona, contact our Life and Health Section at [email protected].