Multi-State Review Program for Annuity Companies A Single, Online Annuity Filing That Reaches Five...
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![Page 1: Multi-State Review Program for Annuity Companies A Single, Online Annuity Filing That Reaches Five States.](https://reader035.fdocuments.us/reader035/viewer/2022072017/56649f055503460f94c19644/html5/thumbnails/1.jpg)
Multi-State Review Program for Annuity Companies
A Single, Online Annuity Filing That Reaches Five States
![Page 2: Multi-State Review Program for Annuity Companies A Single, Online Annuity Filing That Reaches Five States.](https://reader035.fdocuments.us/reader035/viewer/2022072017/56649f055503460f94c19644/html5/thumbnails/2.jpg)
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
![Page 3: Multi-State Review Program for Annuity Companies A Single, Online Annuity Filing That Reaches Five States.](https://reader035.fdocuments.us/reader035/viewer/2022072017/56649f055503460f94c19644/html5/thumbnails/3.jpg)
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
![Page 4: Multi-State Review Program for Annuity Companies A Single, Online Annuity Filing That Reaches Five States.](https://reader035.fdocuments.us/reader035/viewer/2022072017/56649f055503460f94c19644/html5/thumbnails/4.jpg)
TX
CA
FL
GA
NV
25% of the Annuity Market
![Page 5: Multi-State Review Program for Annuity Companies A Single, Online Annuity Filing That Reaches Five States.](https://reader035.fdocuments.us/reader035/viewer/2022072017/56649f055503460f94c19644/html5/thumbnails/5.jpg)
Expedited Review Process
• Maximum time for review by states: 60 days
• Average time: 30 days• Shortest time to date: 8 days
![Page 6: Multi-State Review Program for Annuity Companies A Single, Online Annuity Filing That Reaches Five States.](https://reader035.fdocuments.us/reader035/viewer/2022072017/56649f055503460f94c19644/html5/thumbnails/6.jpg)
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
![Page 7: Multi-State Review Program for Annuity Companies A Single, Online Annuity Filing That Reaches Five States.](https://reader035.fdocuments.us/reader035/viewer/2022072017/56649f055503460f94c19644/html5/thumbnails/7.jpg)
More Information?
• Contact FL’s Deputy Insurance Commissioner Michelle Robleto at 850.413.3140