Multi-State Review Program for Annuity Companies A Single, Online Annuity Filing That Reaches Five...
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Multi-State Review Program for Annuity Companies
A Single, Online Annuity Filing That Reaches Five States
What is the Multi-State Review Program?
• Florida, Texas, and California signed an MOU in 2004
• Combination of all three states’ annuity review standards
• Filers use Florida’s online I-File system
How does it work?• Florida, Texas, and California are the
“participating” states and review the annuity filing
• Other “auxiliary” states can join, but they do not participate in the review and will accept the participating states’ disposition of the filing
• File reviews average 60 days or less
TX
CA
FL
GA
NV
25% of the Annuity Market
Expedited Review Process
• Maximum time for review by states: 60 days
• Average time: 30 days• Shortest time to date: 8 days
What does it cost my company to participate?
• Nothing; all you need is Internet Explorer 5.5 or higher
• Insurers have been using Florida’s online filing system (I-File) for Florida rate and forms filings since 2002
More Information?
• Contact FL’s Deputy Insurance Commissioner Michelle Robleto at 850.413.3140