NAIC Adopts Rebating Changes to Unfair Trade Practices Model

The National Association of Insurance Commissioners’ (NAIC) Executive Committee has adopted language that would allow for some types of “rebates” to be offered to consumers, unanimously approving amendments to Section 4(H) (“Rebating”) of the NAIC Unfair Trade Practices Act (Model #880) (UTPA). The revised language permits insurers or producers to “[o]ffer or give non-cash gifts, …

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