W. Va. Code R. § 114-11-2

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 114-11-2 - Applicability

2.1. This rule applies to any life insurance or annuity advertisement intended for dissemination in this state. In variable contracts where disclosure requirements are established pursuant to federal regulation, this rule shall be interpreted so as to eliminate conflict with federal regulation.

2.2. All advertisements, regardless of by whom written, created, designed or presented, are the responsibility of the insurer, as well as the producer who created or presented the advertisement. Insurers shall establish and at all times maintain a system of control over the content, form and method of dissemination of all advertisements of its products. A system of control includes regular and routine notification, at least once a year, to insurance producers, brokers and others authorized by the insurer to disseminate advertisements of the requirements and procedures for company approval prior to the use of any advertisement that is not furnished by the insurer and of the most serious consequence of not obtaining the required prior approval.