2024 Annual Report
The 2024 Annual Report emphasizes the continued success of the Insurance Compact as it ends its eighteenth year of operations.
The Insurance Compact adopted several new or amended Uniform Standards: eight new or amended Annuity Uniform Standards, including Standards for Individual Deferred Index Linked Variable Annuity Contracts, and 27 amended Uniform Standards to accommodate non-employer groups, including Group Whole and Term Life Insurance and Group Disability Income Insurance product lines. Other achievements include amending the Compact Bylaws to allow more flexibility in filling and sustaining the service of former Compact Officers to serve as the ex-officio Past Chair, the adoption of Compass 2.0, and the implementation of governance training for designated representatives. These actions were implemented in conjunction with the third annual Compact Roundtables, which are strategic planning sessions where members can hear feedback about the Insurance Compact directly from interested parties.
The Insurance Compact’s Annual Report highlights the continued progress and success of the commitment and hard work of its members, their staff, state legislators, companies, and consumer and industry representatives.