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What is the Multi-State Review Program? Florida, Texas, and California signed an MOU in 2004

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

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What is the Multi-State Review Program? Florida, Texas, and California signed an MOU in 2004

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  1. Multi-State Review Program for Annuity CompaniesA Single, Online Annuity Filing That Reaches Five States

  2. 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

  3. 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

  4. 25% of the Annuity Market CA NV GA TX FL

  5. Expedited Review Process • Maximum time for review by states: 60 days • Average time: 30 days • Shortest time to date: 8 days

  6. 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

  7. More Information? • Contact FL’s Deputy Insurance Commissioner Michelle Robleto at 850.413.3140

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