Unfair Trade Practices

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Misrepresentation/False Advertising of Policies

1. Misrepresentation of benefits 2. Misrepresentation of dividends 3. Misrepresentation of the financial condx or reserves of the insurer 4. Names or titles of insurance policies that misrepresent of the true nature of the contract

Unfair Trade Practices Act (7)

Prohibits all practices considered by the State as an unfair method of competition or a deceptive practice.

Unfair Discrimination

between individuals with similar exposures & hazards

Defamation

false oral or written statements to injure another party

Boycotting/Coercion/Intimidation

forcing insured to sign policy

Rebating

if you sign this you will get this amount of money

Misuse of Confidential Information

sharing with other?


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