News

The Insurance Compact Office frequently sees filers selecting the Supporting Documentation Update (SDU) filing type when they should not, or not selecting it when they should. In this week?s tip, we will highlight a few common filing scenarios and whether the SDU filing type may be appropriate.

The SDU filing type was implemented to accommodate revisions to information provided on the Supporting Documentation tab of the original filing, such as the Statement of Variability or actuarial material. This filing type can be utilized when the supporting documentation of several filings are impacted by utilizing one SDU submission and using the Associated Filings feature to link the SDU submission to the affected filings. For example, if the company is changing the process by which an electronic application is authenticated, the SDU submission can be associated to all filings containing applications that are affected by this change.

If your company plans to update an approved Compact filing, your first stop should be Filing Information Notice 2017-1: Process for Revisions to Forms and Supporting Documentation in Compact Filings (FIN 2017-1), where the processes for updating approved-Compact filings in a variety of scenarios is explained in great detail. If you have further questions after reviewing the FIN, read through the FIN 2017-1 FAQ, available on the Insurer Resources page of the Insurance Compact website, to see if your question has already been addressed.

If you have questions about which filing type to use, or about filing with the Insurance Compact in general, please contact the Insurance Compact Office.