New Development in Post-approval review file selection
The Life Bureau announced yesterday that they will be initiating a new method of determining how files are selected for post-approval reviews. Deborah Kahn, Associate Insurance Attorney, announced that the attorneys will review the CL6 filings shortly after approval in a limited manner. They will review the submission letters and do a quick review of the policy forms themselves to assess the nature of the product. The goal of this review is to assess a priority level to the post-approval review. A paragraph will be prepared on each filing and a priority level assigned: low, medium or high. Knowing that submission letters will be used in this manner may suggest that additional thought and care be put into the description of any innovative features. This is an interesting development in the on-going evolution of the post-approval review process.
