News

This week, the Insurance Compact Office wants to address common questions of how to notify the Compact Office of updates to information submitted via the submission requirements of the Annual Registration Filing (ARF) for 2021.

Updates to EFT or Bank Information:

Changes to EFT or banking information should be addressed directly with SERFF. Please reach out to serffhelp@naic.org for further details.

Updates to Licensing Verification:

If there are changes to the company’s licensing status over the course of the calendar year, the company is expected to submit a Note to Reviewer requesting to reopen the ARF filing to update this submission requirement with the Certificate of Authority (COA).  The company is asked to NOT submit the Licensing Verification form again, but rather attach the COA to the submission requirement within the filling. Failure to update the requirement in the ARF submission could delay approval of subsequent product filings if the included states do not correspond with the information provided in the registration submission. This would prompt follow-up from the Insurance Compact Office requesting either proof of authority or removal of the state from the product filing.

Updates to Contact Information:

Please let us know of changes in staffing or contact information by submitting a Note to Reviewer within the ARF submission with the update. The company is asked not to submit the Company Contact form again. You may also send a separate email to comments@insurancecompact.org with any contact changes.

If you have any questions regarding this weekly tip or your Annual Registration Filing, please contact the Insurance Compact Office.