Record Adopted Standard

§ 101.    Purpose.

Pursuant to Section 3 of Article III of the Bylaws of the Interstate Insurance Product Regulation Commission, this Operating Procedure establishes procedures for the certifications of foreign language translations for product filings approved by the Commission to be sold or otherwise issued in languages other than English, if permitted under the laws of a compacting state.

§102.  Filing of Notice and Certification.

(a)    An approved Product Component may be sold or otherwise issued in a language other than English by an insurer only if: 

(1)    the insurer provides the Commission with a certification of the accuracy of the translation in accordance with this section on a form acceptable to Commission; and 

(2)    the insurer provides the Commission with a true, accurate and complete copy of the Product Component in the language other than English; and

(3)    the Commission has notified the insurer that the required certification and copy of the Product Component were received.

(b)    The certification must be signed by an authorized officer of the insurer certifying that:

(1)    the insurer has reviewed the credentials of the translator including all pertinent certifications, accreditations, or degrees in translation and is satisfied with the translator’s qualifications;

(2)    the Product Component in the language other than English is a true, accurate and complete translation of the English version of the approved Product Component; and

(3)    the Product Component in the language other than English will not be sold or otherwise issued in combination with a State Product Component that is in a language other than that of the Product Component.

(c)    Approval by the Commission of the Product Component in accordance to this Section does not exempt the insurer from compliance with any other requirements regarding translation as addressed in an individual Compacting state’s law for Product Components filed prior to the implementation of the Commission.

(d)    The insurer will bear any translation expense incurred by the Commission or a Compacting State in connection with the enforcement of the Compact or the laws of a Compacting State.

§ 103.    State Law on Product Sales.

Nothing in this Operating Procedure shall be construed to preclude or limit the enforcement of any laws of a Compacting State regarding sale of approved products in English or languages other than English.

§ 104.    Adoption and Effective Date.

This Operating Procedure was adopted by the Commission on August 27, 2008, pursuant to the procedures set forth in the Rule for Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission.  This Operating Procedure is effective on October 11, 2008.