GlossaryStatutes & Regulations
Statutes & RegulationsRebating
Also known as: Rebate
An illegal unfair trade practice in which an agent offers any valuable consideration, discount, or return of commission to induce an applicant to purchase an insurance policy.
“Knowingly permitting or offering to make any rebate of premiums, special favors, or valuable consideration not specified in the insurance contract is strictly prohibited.”
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