Debating Anti-Rebate And Inducement Laws In Washington

Law360, New York (February 17, 2017, 11:02 AM EST) -- Shawn Hanson

Crystal Roberts Similar to most other states, Washington prohibits insurers and insurance producers from offering to pay to an insured any rebate or any other valuation consideration not expressly provided for in the insurance policy as an inducement to purchasing insurance.[1] There are certain exceptions to this restriction, including advertising or promotional programs that offer prizes or other goods not exceeding $100 in value and that are given to all insureds or prospective insureds under similar qualifying circumstances.[2]

Several states have issued guidance clarifying...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.