Term
|
Definition
| telling untruths about another agents or insurers financial condition. |
|
|
Term
|
Definition
| giving someone something back as an incentive to do business or place coverage with you |
|
|
Term
|
Definition
| replacing the insured's current policy with your policy when it is not in the insured's best interest |
|
|
Term
|
Definition
| forcing someone to do business with you - restraint of the business of insurance |
|
|
Term
|
Definition
| inaccurate or incomplete (false advertising)comparisons of insurance contracts or companies |
|
|
Term
|
Definition
| mixing business monies into other separate accounts for the agent's own use |
|
|
Term
| Unfair Discrimination/Boycotting |
|
Definition
| basing an insurance decision on something other than an underwriting factor |
|
|
Term
|
Definition
| reflects persons current opinion & state if person is being paid |
|
|
Term
|
Definition
| owned by and for the benefit of the stockholders/shareholders |
|
|
Term
|
Definition
| owned by and for the benefit of the policyholders |
|
|
Term
|
Definition
| insurers form a syndicate to underwrite risks reciprocal |
|
|
