CARFRACoordinated Advertising Rate and Form Review Authority (National Association of Insurance Commissioners)
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Even if a product receives CARFRA approval, an insurer may have to change the product and submit it again in some states to meet specific statutory requirements.
A filing with CARFRA is considered a filing with each of the participating states.
But the CARFRA evaluation process requires states to list the regulations and laws that deviate from the national standards approved by the committee.
The CARFRA filings will be evaluated by review panels composed of experienced employees from the member states participating in the limited launch.