Annual Report

 

Annual Report

Insurance Compact Annual Report

Annual Report

The 2018 Annual Report showcases the continued growth the Insurance Compact has demonstrated since coming into existence in June 2006. In 2018, the Council of the District of Columbia enacted the Compact legislation making the District the 46th jurisdiction to do so. While the Compact grew in membership, the number of registered companies submitting product filings through the Compact’s speed-to-market platform grew to a record-breaking number. Over 7,600 products have been approved since the first filings were submitted in June 2007 which equates to over 240,700 SERFF transactions. Throughout 2018, the Products Standards Committee completed the Five-Year Review of the individual Disability Income Uniform Standards and conducted a gap analysis to prioritize the development of additional individual life insurance and annuity Uniform Standards.

The Insurance Compact’s Annual Report emphasizes the continued progress and success due to the commitment and hard work of the members and their staff, with the involvement of state legislators, companies, and consumer and industry representatives.