Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-76 - SALE OF INSURANCE BY FINANCIAL INSTITUTIONS
Rule 120-2-76-.15 - Advertising

(1) Advertisements of insurance products marketed pursuant to this regulation shall be subject to the provisions of O.C.G.A. § 33-6-1et seq. and other applicable Georgia law and Insurance Department and Department of Banking and Finance regulations.

(2) No licensed or unlicensed person shall in connection with the marketing of insurance refer to coverage available by the Georgia Life and Health Insurance Guaranty Association, Georgia Insurers' Insolvency Pool, or any other guaranty association, unless specifically asked by the purchaser.

(3) If insurance product advertisements directed to prospective purchasers are included in mailings of bank statements or other documents generated by the financial institution relating to products or services provided by the financial institution, the mailings shall clearly identify the sources of the materials.

(4) If the product or program name under which an insurance product is marketed includes the name of a financial institution or the name of a program associated with the financial institution, the product or program name must also identify the insurance company which is issuing and underwriting the product.

(5) Premiums shall not be referred to as "deposits". Terminology used in connection with insurance must be sufficiently different than that used in connection with traditional banking products and services so as to avoid confusion.

(6) Advertisements of insurance are the responsibility of the insurer and subject to review by the Georgia Insurance Department. If an advertisement describes insurance products and other types of financial services or investments, the entire advertisement must be submitted to the Georgia Insurance Department in the form in which it will be communicated to consumers.

(7) An unlicensed employee of a financial institution may distribute an advertisement describing an insurance product to a prospective purchaser or may refer a customer to a display containing such advertisements. However, that employee shall not recommend the purchase of an insurance product, describe the features of an insurance product, or respond to questions regarding the content of the advertisement. In response to any questions, the employee must indicate that the consumer should pose that question to the licensed agent.