Interstate Insurance Product Regulation Commission

The commission was created in 2002 by members of the National Association of Insurance Commissioners.^[1] Its mission statement is to "serve[] insurance regulators, consumers and providers by improving the efficiency and effectiveness in the ever-changing insurance marketplace." It serves as a clearinghouse for insurance companies' policy form filings.^[3]

Following its creation, 45 states joined the compact, the last being Delaware in 2021.^[4] South Carolina withdrew in 2022 following a dispute with the commission over its authority to approve long-term care rate increases.^[1]

The commission's authority was called into question in 2020 following the decision of ''Amica Life Insurance Company v Wertz'', in which the Colorado Supreme Court ruled that a standard 2-year suicide exclusion for life insurance contracts conflicted with state law and was an unauthorized delegation of authority to the commission.^[5][6]