Delaware The 45th State To Join The Insurance Compact
August 10, 2021 by John Hilton
Gov. John C. Carney signed legislation last week making Delaware the 45th state, plus Puerto Rico and Washington D.C., to join the Interstate Insurance Product Regulation Compact.
Created by the National Association of Insurance Commissioners in 2002, the compact reviews and approves (or disapproves) individual and group annuity, life insurance, disability income, and long-term care insurance products.
States steadily joined the compact in the years following its adoption. Then the join rate slowed to a trickle.