July 24, 2014: Arizona Becomes a Member of the Interstate Insurance Product Regulation Compact

Governor Jan Brewer signed HB 2483, adding Arizona as the 44th jurisdiction to become a member of the Interstate Insurance Product Regulation Compact (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 will now serve as a central point of review of electronic filings in Arizona for these products, with the exception of long term care filings. The Compact will not review long-term care insurance filings for Arizona, as Arizona has opted out of review by the Compact of these filings.

HB 2483 will become effective on July 24, 2014. Inclusion of Arizona in filing review by the Compact, will begin on August 7, 2014.

Warning - Phishing Scam

We are aware of a phishing scam targeting insurance professionals claiming that the National Association of Insurance Commissioners received a complaint that the professional submitted a falsified claim. This fraudulent email displays the NAIC and CIPR logos, can originate from what appears to be an naic.org or gmail.com email account, and instructs the recipient to click on a link to download the complaint notification.

Certain antivirus products will detect this as a malicious email.  If you receive a similar email and have any concerns, contact the NAIC Service Desk at (816) 783-8500 or [email protected].