Unfair methods of competition and deceptive practices

What this document is

C.R.S. s. 10-3-1104: Unfair methods of competition and deceptive practices is a state statute published by Colorado General Assembly, Office of Legislative Legal Services (leg.colorado.gov). It is one of the Colorado documents that insurance license exam questions are written from, including colorado life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• C.R.S. § 10-3-1104(1)(d) (Boycott, coercion, and intimidation)

  “Entering into any agreement to commit, or by any concerted action committing, any act of boycott, coercion, or intimidation resulting in or tending to result in unreasonable restraint of, or monopoly in, the business of insurance;”

• C.R.S. § 10-3-1104(1)(c) (Defamation)

  “Making, publishing, disseminating, or circulating, directly or indirectly, or aiding, abetting, or encouraging the making, publishing, disseminating, or circulating of any oral or written statement or any pamphlet, circular, article, or literature which is false, or maliciously critical, or...”

• C.R.S. § 10-3-1104(1)(b)(I) (False information and advertising)

  “Making, publishing, disseminating, circulating, or placing before the public, or causing, directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in a newspaper, magazine, or other publication, or in the form of a notice, circular, pamphlet, letter, or...”

• C.R.S. § 10-3-1104(1)(b)(II) (False statement of financial condition)

  “Knowingly filing with the commissioner or other public official, or with any employee or agent of the division of insurance in the department of regulatory agencies, a written, false statement of material fact as to the financial condition of an insurer;”

• C.R.S. § 10-3-1104(1)(a)(II) (Misrepresentation of dividends or surplus)

  “(II) Misrepresents the dividends or share of the surplus to be received on any insurance policy;”

• C.R.S. § 10-3-1104(1)(a)(VIII) (Misrepresentation of Policy as a Security)

  “or (III) Makes any false or misleading statements as to the dividends or share of surplus previously paid on any insurance policy; or (IV) Is misleading or is a misrepresentation as to the financial condition of any person, or as to the legal reserve system upon which any life insurer operates; or...”

• C.R.S. § 10-3-1104(1)(e) (Stock Operations and Advisory Board Contracts)

  “Stock operations and advisory board contracts: Issuing or delivering, or permitting agents, officers, or employees to issue or deliver, agency company stock or other capital stock, or benefit certificates or shares, in any corporation, or securities, or any special or advisory board contracts, or...”

• C.R.S. § 10-3-1104(1)(f)(I) (Unfair Discrimination)

  “Making or permitting any unfair discrimination between individuals of the same class and equal expectation of life in the rates charged for any contract of life insurance or of life annuity, or in the dividends or other benefits payable thereon, or in any other of the terms and conditions of such contract;”

• C.R.S. § 10-3-1104(1)(a)(V) (Misleading Policy Name)

  “(V) Uses any name or title of any insurance policy or class of insurance policies misrepresenting the true nature thereof;”

• C.R.S. § 10-3-1104(1)(a)(I) (Misrepresentation of policy benefits, advantages, conditions, or terms)

  “any estimate, circular, statement, sales presentation, omission, or comparison which: (I) Misrepresents the benefits, advantages, conditions, or terms of any insurance policy;”

• C.R.S. § 10-3-1104(1)(a)(IV) (Misrepresentation of Financial Condition or Legal Reserve System)

  “Is misleading or is a misrepresentation as to the financial condition of any person, or as to the legal reserve system upon which any life insurer operates;”

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