News

Did you know that there are seven weeks left in 2020? Do you still have life or annuity product filings that you need to submit and receive approval before the end of the calendar year? If so, we recommend you review the Expedited Review Program and submit a request to meet your deadline.

The expedited review process is an optional way for companies to obtain review of life and annuity products on an expedited basis where review and company response times are prescribed and much shorter than for a non-expedited review. The Expedited Review Program will not sacrifice a detailed, quality review or diminish compliance with the applicable Uniform Standards.

• Status update: Currently, there are no companies on either wait list ? so now is the time to get the request submitted. The queue and wait list status on the Insurer Resources page of the Insurance Compact website are updated every Tuesday and Thursday.
• Instructions: Detailed Information pertaining to the program can be found on the Insurer Resources page of the Insurance Compact website. You will find step-by-step guidance to assist with submitting your request to the Insurance Compact Office.
• Eligibility: If you are concerned your company does not squarely meet the eligibility criteria due to business needs or other unique filing circumstances, please contact the Insurance Compact Office at expedited@insurancecompact.org to request further analysis. We want to understand how the criteria affect all prospective users of the program.
• Permanent program: As part of the proposed 2021 Annual Budget, the Insurance Compact is recommending the Expedited Review Program become a permanent filing option. It is expected the program will remain in place for 2021 and future filings.
• Fee reminder: A company must receive written acceptance from the Insurance Compact Office to enter the expedited review queue. The Expedited Review fee is due only after the Compact has issued the written acceptance via email.

If you have any questions pertaining to the Expedited Review Program, or filing with the Insurance Compact in general, please reach out to the Insurance Compact Office.