760 Ind. Admin. Code 1-18-17

Current through October 31, 2024

Section 760 IAC 1-18-17 - Third-party approval or endorsement

Authority: IC 27-1-3-7

Affected: IC 27-4-1-4

Sec. 17.

APPROVAL OR ENDORSEMENT BY THIRD PARTIES.

(a) An advertisement shall not state or imply that an insurer or a policy has been approved or an insurer's financial condition has been examined and found to be satisfactory by a governmental agency, unless such is the fact.

(b) An advertisement shall not state or imply that an insurer or a policy has been approved or endorsed by an individual, group of individuals, society, association or other organization, unless such is the fact.

Interpretation of Section B 14(a) [subsection (a) of this section]

The word "approved" shall not be interpreted so as to permit an insurer to state or imply in an advertisement that a governmental agency has endorsed or recommended the insurer, its policies or its financial condition.

This Section does not prohibit an insurer from reproducing a portion of a filed report of examination of such insurer, conducted by one or more insurance departments, provided the portion reproduced is not taken out of context and thereby rendered untrue or misleading.

Interpretation of Section B 14(b) [subsection (b) of this section]

This Section requires current and valid endorsements. It would prohibit representations that a policy or plan of an insurer is a community health plan or program unless such policy or plan has been adopted by the particular community government for the residents of that community or has been so designated by law.

760 IAC 1-18-17

Department of Insurance; Reg 19,Sec B14; filed May 9, 1972, 4:15 pm: Rules and Regs. 1973, p. 422; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed November 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA

Readopted filed 11/19/2019, 9:18 a.m.: 20191218-IR-760190497RFA