Recommended Practice. (a) It is recommended that insurers notify the Department of coverage within 30 days (i.e., copy of confirmation letter) of coverage and submit forms within six months, notwithstanding the twelve month period noted in Circular Letter 64-1. (b) Insurers should review pre-filings periodically (monthly) to verify compliance with conditions for pre-filing. (c) Insurers should vigorously pursue approval (or acceptance for out-of-state filings) of pre-filed cases after forms have been submitted to mitigate harm if forms are found not to comply with applicable requirements.
Appears in 2 contracts
Sources: Separate Account Agreements, Separate Account Agreements
Recommended Practice. (a) It is recommended that insurers notify the Department of coverage within 30 days (i.e., copy of the confirmation letter) of coverage and submit forms within six months, notwithstanding the twelve month period noted in Circular Letter 64-1.
(b) Insurers should review pre-filings periodically (monthly) to verify compliance with conditions for pre-filing.
(c) Insurers should vigorously pursue approval (or acceptance for out-of-state filings) of pre-filed cases after forms have been submitted to mitigate harm if forms are found not to comply with applicable requirements.
Appears in 1 contract
Sources: Funding Agreement
Recommended Practice. (a) It is recommended that insurers notify the Department of coverage within 30 days (i.e., copy of confirmation letter) of coverage and submit forms within six months, notwithstanding the twelve month period noted in Circular Letter 64-1.
. (b) Best Practice). Insurers should review pre-filings periodically (monthly) to verify compliance with conditions for pre-filing.
(cb) Insurers should vigorously pursue approval (or acceptance for out-of-state filings) of pre-filed cases after forms have been submitted to mitigate harm if forms are found not to comply with applicable requirements.
Appears in 1 contract
Sources: Group Annuity Terminal Funding and Close Out Contracts