Iowa Insurance Commissioner Bulletin: October 21,2008

(2008) Iowa Insurance Commissioner Bulletin: October 21,2008. Insurance Division (Commerce)

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Abstract

This Bulletin will clarify two issues addressed in Bulletin 08-15 regarding rebates. In the second paragraph of Bulletin 08-15 the last sentence provides that the Bulletin focuses upon “personal lines of insurance.” Please note that Bulletin 08-15 focuses on lines of insurance both in life and health and property and casualty. The sentence in question was provided to differentiate between personal lines and commercial lines (where some types of reduction in rates and commissions are allowed.) The fifth paragraph, last sentence should read as follows: “However, services provided in connection with an insurance policy such as newsletters or value-added services if they are related to the type of insurance purchase or are intended to reduce claims are not considered rebates and a violation of the Iowa law.” The change from “and” to “or” will allow for services to be provided that may not reduce claims.

Item Type: Departmental Report
Keywords: Insurance, Worker Compensation, Guidelines to insurance
Subjects: Business and industry > Insurance
Business and industry > Insurance > Health insurance and health care coverage > Workers compensation
ID Code: 23456
Deposited By: Margaret Barr
Deposited On: 17 Feb 2017 19:48
Last Modified: 17 Feb 2017 19:48
URI: http://publications.iowa.gov/id/eprint/23456