What Unfair Trade Practices Act (Model #880) requires
This model act prohibits insurers and their agents from engaging in unfair methods of competition or deceptive acts, including misrepresentation, false advertising, rebating, and unfair discrimination in rates and benefits, as defined in Section 4. It also establishes standards for prompt, fair, and equitable settlement of claims under Section 9.
Pillar: Banking & Global Finance · Authority: National Association of Insurance Commissioners (NAIC) · Version: 1.0.0 · Last updated:
Primary source: https://content.naic.org/sites/default/files/model-law-880.pdf
SHA-256 integrity: ecb3e6ec8692bb1687c9651156fadb702851a936a663218881a3b83ff0231f33
Primary Citations — 7 traced to source
- NAIC Unfair Trade Practices Act (Model #880), Section 3 - Unfair Methods of Competition or Unfair and Deceptive Acts or Practices Prohibited
- NAIC Unfair Trade Practices Act (Model #880), Section 4B - Misrepresentations and False Advertising of Insurance Policies
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