Unfair methods of competition and deceptive acts defined

What this document is

N.J.S.A. 17:29B-4: Unfair methods of competition and deceptive acts defined is a state statute published by New Jersey Legislature (pub.njleg.gov). It is one of the New Jersey documents that insurance license exam questions are written from, including new jersey 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.

• N.J.S.A. § 17:29B-4(4) (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, or resulting in or tending to result in unreasonable influence being...”

• N.J.S.A. § 17:29B-4(3) (Defamation)

  “any oral or written statement or any pamphlet, circular, article or literature which is false, or maliciously critical of or derogatory to the financial condition of an insurer, and which is calculated to injure any person engaged in the business of insurance.”

• N.J.S.A. § 17:29B-4(2) (False Information and Advertising Generally)

  “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.J.S.A. § 17:29B-4(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 person, or placed before the...”

• N.J.S.A. § 17:29B-4(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.J.S.A. § 17:29B-4(6) (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 common-law corporation, or securities or any special or advisory board contracts or other contracts of any kind promising...”

• N.J.S.A. § 17:29B-4(7)(a) (Unfair Discrimination - dividends and benefits)

  “(7) Unfair discrimination. (a) 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...”

• N.J.S.A. § 17:29B-4(7)(a) (Unfair Discrimination - life insurance rates)

  “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.”

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Questions about this source

More New Jersey sources

• N.J.S.A. Title 17 Chapter 1 - Department of Banking and Insurance; the Commissioner's powers (17:1-1 through 17:1-28, 23 sections)State statute
• N.J.S.A. Title 17 Chapter 16C - Retail Installment Sales Act (17:16C-1 through 17:16C-103, 125 sections)State statute
• N.J.S.A. Title 17 Chapter 1C - Department expenses, apportionment and assessment (17:1C-6.1 through 17:1C-48, 32 sections)State statute
• N.J.S.A. Title 17 Chapter 28 - Insurance policy provisions, including compulsory uninsured and underinsured motorist coverage (17:28-1 through 17:28-8, 16 sections)State statute
• N.J.S.A. Title 17 Chapter 29A - Rates and rating organizations (17:29A-1 through 17:29A-62, 73 sections)State statute
• N.J.S.A. Title 17 Chapter 29AA - Commercial insurance deregulation (17:29AA-1 through 17:29AA-34, 35 sections)State statute
• N.J.S.A. Title 17 Chapter 29B - Unfair trade practices in the business of insurance, complete chapter (17:29B-1 through 17:29B-19, 20 sections)State statute
• N.J.S.A. Title 17 Chapter 29C - Cancellation of certain insurance policies (17:29C-1 through 17:29C-13, 18 sections)State statute