Section 760IAC1-18-9. Statistics in advertising

Latest version.

   USE OF STATISTICS. An advertisement relating to the dollar amounts of claims paid, the number of persons insured, or similar statistical information relating to any insurer or policy shall not be used unless it accurately reflects all of the relevant facts. Such an advertisement shall not imply that such statistics are derived from the policy advertised unless such is the fact.

  Interpretation of Section B 6 [this section]

  If the term "loss ratio" is quoted, it should be based on (a) premiums received and benefits paid, or (b) premiums earned and losses incurred.

  An advertisement representing the dollar amounts of claims paid must also indicate the period over which such claims have been paid. (Department of Insurance; Reg 19,Sec B6; filed May 9, 1972, 4:15 pm: Rules and Regs. 1973, p. 420; 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 Nov 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA)

                    
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