The IIPRC Announces Its Own Version of a TSA Pre-Check Program
for Life and Annuity Product Filings

 

The Compact announced its Pilot Program for Expedited Review this month.  The Pilot Program will run from January through June 2019.  This program is for experienced Compact filers or, if you will, “frequent flyers” with the Compact. If your Company qualifies for the Expedited Review program you can get a filing reviewed and approved in as few as ten days. 

There are several requirements that must be met, so be sure to check out the Overview and Instructions for using the program.

Using this new program comes with the following stipulations:

1.       It will cost you double the applicable Compact filing fee; and

2.       Each Company can only have one filing in the Expedited Review Queue at a time.

The Queue will only accept four Life and two Annuity filings at any given time.  Don’t fret, if the queue is full when you want to submit your filing, the Compact will add you to the wait list.  You can submit your filing for normal review and if your number on the wait list comes up then they will move your filing from normal review to expedited review.

This is a lot to take in, but the long and the short of it is, if you are an experienced Compact filer and the product you are filing meets the criteria, you will be cleared for TSA Pre-Check and can use the Compact’s Expedited Review Pilot Program.

If you need help with your next Compact filing Contact Us today.  First Consulting is an experienced third-party filer not just with the Compact, but with all jurisdictions and can help you meet your product filing goals.

 

Claire Miller, CPCU, AIC
Associate Consultant