News

This week's tip is the first in the Best Practices Weekly Tip Roundup series, in which we compile the most frequently-cited resources published on specific filing topics. Review the resources highlighted in this week's tip on completing the Statement of Intent (SOI) to ensure your filing is ready for review. Filings that are submitted ready for review avoid time-draining objections.

The Insurance Compact Office reminds filers that any product filing submission that contains Compact product components to be used in combination with state product components ("Mix and Match") must have a completed SOI. Filers adding a state to a pending or approved filing that already uses Mix and Match should always include a Note to Reviewer indicating whether or not the SOI requires an update. The SOI should also be completed if the product will make use of Mix and Match for only the newly added state(s).

The Insurance Compact Review Team invites filers to review the following review time-saving resources related to SOI completion:

• State Product Components on the SOI - Tips for how to determine which state product components should be included on the SOI.
• Completing the SOI Accurately - Suggestions for avoiding the most common errors in completing the SOI.
• How to Remove SOI Items - Process for removing forms included on the Statement of Intent (SOI) once a filing had been submitted for review.

If you have any questions about completing the SOI in your Compact filing, or about filing with the Insurance Compact in general, please contact the Insurance Compact Office.