INTERSTATE AGENCIES

INTERSTATE INSURANCE PRODUCT REGULATION COMMISSION

ORIGIN & FUNCTIONS

Effective October 1, 2006, Maryland joined the Interstate Insurance Product Regulation Compact and became a member of the Interstate Insurance Product Regulation Commission created by the Compact (Chapter 508, Acts of 2005). Currently, forty-four states, the District of Columbia, and the Commonwealth of Puerto Rico are members.

Organized in 2006, the Commission, through the joint efforts of member states, works to protect the interests of insurance consumers; develop uniform standards for insurance products; approve products which meet the uniform standard; and establish a central clearinghouse for prompt review of insurance products and related advertisement of products. In addition, the Commission seeks to improve coordination of regulatory resources and expertise between state agencies setting uniform standards and reviewing insurance products, and perform other functions consistent with State regulation of the insurance business.

Interstate Agencies (Maryland memberships)
Maryland & the Federal Government
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