Interstate compact

An agreement between two or more states. The ACA requires the NAIC to develop standards for voluntary interstate compacts that will permit sales of health insurance policies across state lines. These regulations are due July 1, 2013 to permit states to enter into Interstate compacts January 1, 2016. Where there is opportunity for interstate compacts for other insurance products, Minnesota has participated in the Interstate Insurance Product Regulation Compact. (See. Minn. Stat. 62A.99)