Blog: NAIC Adopts Amendment to Relax Restrictions on Rebates That May Be Offered by Insurance Providers | Cooley LLP
To embed, copy and paste the code into your website or blog: On December 9, the National Association of Insurance Commissioners' executive committee unanimously adopted an amendment to the NAIC Unfair Trade Practices Act, referred to herein as the Model Act, which, if adopted by the states, would represent a significant change in course in how insurance companies and producers may offer rebates in connection with their product offerings. For insurtechs specifically, which are continuously contemplating innovative and efficacious ways to offer insurance products, the revised Model Act opens th...