Unfair methods of competition and deceptive acts defined

What this document is

N.C. Gen. Stat. s. 58-63-15: Unfair methods of competition and deceptive acts defined is a state statute published by North Carolina General Assembly (ncleg.gov). It is one of the North Carolina documents that insurance license exam questions are written from, including north carolina life & health, north carolina property & casualty, north carolina personal lines 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.

• N.C. Gen. Stat. § 58-63-15(4) (Boycott, Coercion and Intimidation)

  “any act of boycott, coercion or intimidation resulting in or tending to result in unreasonable restraint of, or monopoly in, the business of insurance.”

• N.C. Gen. Stat. § 58-63-15(3) (Defamation)

  “(3) 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...”

• N.C. Gen. Stat. § 58-63-15(2) (False Information and Advertising Generally)

  “an advertisement, announcement or statement containing any assertion, representation or statement with respect to the business of insurance or with respect to any person in the conduct of his insurance business, which is untrue, deceptive or misleading.”

• N.C. Gen. Stat. § 58-63-15(5) (False Financial Statements)

  “(5) False Financial Statements. - Filing with any supervisory or other public official, or making, publishing, disseminating, circulating or delivering to any person, or placing before the public, or causing directly or indirectly, to be made, published, disseminated, circulated, delivered to any...”

• N.C. Gen. Stat. § 58-63-15(1) (Misrepresentations and False Advertising of Policy Contracts)

  “(1) Misrepresentations and False Advertising of Policy Contracts. - Making, issuing, circulating, or causing to be made, issued or circulated, any estimate, illustration, circular or statement misrepresenting the terms of any policy issued or to be issued or the benefits or advantages promised...”

• N.C. Gen. Stat. § 58-63-15(6) (Stock Operations and Insurance Company 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 common-law corporation, or securities or any special or any insurance company advisory board contracts or other contracts of...”

• N.C. Gen. Stat. § 58-63-15(7)b (Unfair Discrimination: Accident and Health)

  “b. Making or permitting any unfair discrimination between individuals of the same class and of essentially the same hazard in the amount of premium, policy fees, or rates charged for any policy or contract of accident or health insurance or in the benefits payable thereunder, or in any of the terms...”

• N.C. Gen. Stat. § 58-63-15(7)a (Unfair Discrimination: Life)

  “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.”

• G.S. 58-63-15(11) (Unfair methods of competition and unfair or deceptive acts or practices defined - Unfair Claim Settlement Practices)

  “(11) Unfair Claim Settlement Practices. - Committing or performing with such frequency as to indicate a general business practice of any of the following: Provided, however, that no violation of this subsection shall of itself create any cause of action in favor of any person other than the...”

• G.S. 58-63-15(7)c (Unfair methods of competition and unfair or deceptive acts or practices defined - Unfair Discrimination, geographic location of a property or casualty risk)

  “Making or permitting any unfair discrimination between or among individuals or risks of the same class and of essentially the same hazard by refusing to issue, refusing to renew, cancelling, or limiting the amount of insurance coverage on a property or casualty risk because of the geographic...”

• G.S. 58-63-15(7)d (Unfair methods of competition and unfair or deceptive acts or practices defined - Unfair Discrimination, age of a residential property risk)

  “Making or permitting any unfair discrimination between or among individuals or risks of the same class and of essentially the same hazard by refusing to issue, refusing to renew, cancelling, or limiting the amount of insurance coverage on a residential property risk, or the personal property...”

• G.S. 58-63-15(12) (Unfair methods of competition and unfair or deceptive acts or practices defined - Misuse of Borrowers' Confidential Information)

  “Soliciting, accepting, or using any information from a lender concerning policies of insurance held by such lender as a mortgagee of real property, except from a lender who is an insurer where the loan has been made by or sold or held for sale to such insurer.”

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More North Carolina sources

• North Carolina General Statutes Chapter 14, Article 19 - False Pretenses and Cheats (G.S. 14-100 through 14-113)State statute
• North Carolina General Statutes Chapter 20, Article 13 - The Vehicle Financial Responsibility Act of 1957 (G.S. 20-309 through 20-319)State statute
• North Carolina General Statutes Chapter 20, Article 9A - Motor Vehicle Safety and Financial Responsibility Act of 1953 (G.S. 20-279.1 through 20-279.39)State statute
• North Carolina General Statutes Chapter 97 - Workers' Compensation Act, complete chapter, Articles 1 through 5 (163 sections, G.S. 97-1 through 97-200)State statute
• North Carolina General Statutes Chapter 58, Article 2 - Commissioner of Insurance (G.S. 58-2-1 through 58-2-255)State statute
• North Carolina General Statutes Chapter 58, Article 28 - Unauthorized Insurers (G.S. 58-28-1 through 58-28-45)State statute
• North Carolina Insurance Producer Licensing - N.C. Gen. Stat. Chapter 58, Article 33 (Licensing of Agents, Brokers, Limited Representatives, and Adjusters)State statute
• North Carolina General Statutes Chapter 58, Article 36 - North Carolina Rate Bureau (G.S. 58-36-1 through 58-36-120)State statute