Is the District of Columbia on your IIPRC radar?
On November 13, 2018 the District of Columbia passed D.C. ACT 22-514 that paves the way for their addition to the Interstate Insurance Product Regulation Commission (Compact). There are a few final hurdles to be cleared before this becomes official, but it is anticipated that an effective date will be announced in February or March of 2019.
What does this mean for the industry? In addition to including DC as a Compact jurisdiction for your new form filings, you will also want to consider adding DC to any previously approved Compact filings. Don’t forget that this process of adding DC to your previously approved Compact filings typically involves tracking down and adding Mix & Match information.
Keep you eye out for an announcement on this change soon and Contact Us if our experts can help your Company with implementing DC or any other IIPRC and state filing activity.
Claire Miller, CPCU, AIC