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Is your company planning to undergo a name change? If so, then you?ll want to review this week?s tip on the most frequently asked questions relating to name change endorsement filings.

The Insurance Compact refers to ?107 of the Product Filing Rule when it reviews product filing submissions that pertain to name changes. To assist filers in interpreting this rule, the Insurance Compact has published a Name Change Checklist to the Insurer Resources page of the Insurance Compact website. You can find this tool under ?Creating a Compact Filing.?

Q: How do I file this name change endorsement? Do I need to reopen our approved filings?

No need to re-open previously-approved filings. Instead, make a new submission with the name change endorsement form attached to the Form Schedule.

Q: The state of domicile has not yet approved the name change, but we are worried about missing our target implementation dates if we wait to file. Can we file new forms with Compact now, with the Company name bracketed, in anticipation?

A name change submission may be filed only after the company has received approval from its state of domicile and at least one compacting state. As states approve the name change, the name change endorsement filing may be re-opened to update applicable states at no additional filing fee cost.

Q: What should be included in the name change endorsement filing submission?

Review the Name Change Checklist to ensure you have met all requirements. In the new submission, the company should include:

• A name change endorsement form
• A certified letter signed by an officer of the Company indicating the new name has been approved/filed in the states included in the filing in accordance with their respective and applicable requirements, along with the effective date of the name change.
• A list of Compact filings by SERFF Tracking number, including the forms with which the name change endorsement will be used.
• Compact filing fee, plus all applicable state filing fees

Q: Our name change endorsement is for multiple companies. What is the best way to file this?

Like any other multi-company filing the Compact receives, multiple name change endorsement forms can be submitted in one filing provided each company is included in the SERFF submission as a filing company. Within the filing there should be a separate name change endorsement form submitted for each company subject to a name change.

Q: Can our Compact-approved name change endorsement be used for state-approved products?

The first drafting note on the Name Change Checklist confirms that only those products previously approved by the Compact can be endorsed by a name change endorsement approved by the Compact. The company needs a state-approved endorsement to use with state-approved forms, and vice-versa for Compact-approved forms. In other words, a name change endorsement approved by a state cannot be used with a Compact-approved product under Mix and Match, and vice versa.

If you have any questions about submitting a Name Change endorsement, or about filing with the Insurance Compact in general, please contact the Insurance Compact Office.