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Insurance Policy FormStates are committed to pursuing modernization of state insurance regulation and they are adopting a streamlined system of product regulation over four product lines: life insurance, annuities, disability income, and long-term care insurance. Through the compact, states are creating uniform product standards, which allow insurers to market insurance products more quickly since they will not have to meet state-specific standards.

Since meeting its operational threshold in May 2006, the Interstate Insurance Product Regulation Compact (IIPRC) now has 45 member jurisdictions representing over 70 percent of the premium volume nationwide.

State Statutory Citation
Interstate Insurance Product Regulation Compact State Statutes
Alabama Ala. Code §27-60-1 et seq.
Alaska Alaska Stat. §21.42.700 et seq.
Arizona Ariz. Rev. Stat. Ann. §20-3251
Arkansas Ark. Stat. Ann. §23-67-601 et seq.
California None
Colorado Colo. Rev. Stat. §24-60-3001
Connecticut None
Delaware None
District of Columbia None
Florida Fla. Stat. §626.9931 et seq. (nonstandard Compact)
Georgia Ga. Code §33-59A-1 et seq.
Guam None
Hawaii Hawaii Rev. Stat. §431:30-101
Idaho Idaho Code §41-5701 et seq.
Illinois Ill. Rev. Stat. ch. 45, §162/1 et seq.
Indiana Ind. Code §27-8-31-1 et seq.
Iowa Iowa Code §505A.1
Kansas Kan. Stat. Ann. §40-5301 et seq.
Kentucky Ky. Rev. Stat. §304.51-010
Louisiana La. Rev. Stat. Ann. §22:2381 et seq.
Maine Me. Rev. Stat. Ann. tit. 24-A, §2471 et seq.
Maryland Md. Insurance Code Ann. §29-101 et seq.
Massachusetts Mass. Gen. Laws. Ann. ch. 175K, §1 et seq.
Michigan Mich. Comp. Laws §3.1031
Minnesota Minn. Stat. §60A.99 et seq.
Mississippi Miss. Code Ann. §83-69-1
Missouri Mo. Rev. Stat. §374.350 et seq.
Montana Mont. Code Ann. §33-39-101 et seq.
Nebraska Neb. Rev. Stat. §44-7801 et seq.
Nevada Nev. Rev. Stat. §687C.010 et seq.
New Hampshire N.H. Rev. Stat. Ann. §408-C:1 et seq.
New Jersey N.J. Rev. Stat. §17B:37-1 et seq.
New Mexico N.M. Stat. Ann. §11-19-1
North Carolina N.C. Gen. Stat. §58-91-1 et seq.
North Dakota None
N. Mariana Islands Not available
Ohio Ohio Rev. Code Ann. §3915.16
Oklahoma Okla. Stat. tit. 36, §7004
Oregon Or. Rev. Stat. §732.820 et seq.
Pennsylvania Pa. Cons. Stat. tit. 40, §4101 et seq.
Puerto Rico P.R. Code Ann. tit. 26, §8081 et seq.
Rhode Island R.I. Gen. Laws §27-2.5-2
South Carolina S.C. Code Ann. §38-95-10 et seq.
South Dakota None
Tennessee Tenn. Code Ann. §56-58-101 et seq.
Texas Tex. Insurance Code Ann. §5001.001 et seq.
Utah Utah Code Ann. §31A-39-101
Vermont Vt. Stat. Ann. tit. 8, §8500 et seq.
Virginia Va. Code §38.2-6200 et seq.
Virgin Islands None
Washington Wash. Rev. Code §48.130.005 et seq.
West Virginia W. Va. Code §33-47-1 et seq.
Wisconsin Wis. Stat. §601.58
Wyoming Wyo. Stat. §26-15-201

 

Heather Morton is a program principal in NCSL's Fiscal Affairs Program. She covers financial services, alcohol production and sales, and medical malpractice issues for NCSL.

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