Unfair Trade Practices Act

Cease and Desist order

-must be in writing -if just cauase is found, the C may issue this to bring such parties to a halt -violation is subject to penalties of up to $5,000 per violation (1,000-5000) -money is used for benefit of public schools in county in which violation occurred. (**for info and privacy protection act-violation of cease and desist is 10,000 per, 50,000 max)

Misrepresentation or False Advertising of Policies

-unfair trade practices -includes misrepresentation of benefits -misrep of dividends -misrep of financial condition or reservs of insr -names or titels of insurance polices that misrep true nature

Hearings to determine validity of such complaints preceded by

10 days written notice

Rebating

any valuable consideration, not specified in contract, which is offered as an inducement to purchase insurance

Unfair Discrimination

bw inviduals with similar hazards and exposures

Defamation

circulation of false or derogatory statement intended to injure another party

Purpose

prohibit all practices considered as an unfair method of competition or a deceptive practive

Boycotting, Coercion and Intimidation

unfair trade practice

Filing false financial statements

unfair trade practice -and/or false entires in record books