Virginia Administrative Code
Title 14 - INSURANCE
Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE
Chapter 90 - RULES GOVERNING ADVERTISEMENT OF ACCIDENT AND SICKNESS INSURANCE
Section 14VAC5-90-90 - Use of statistics

Universal Citation: 4 VA Admin Code 5-90-90

Current through Register Vol. 41, No. 3, September 23, 2024

A. 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 use irrelevant facts, and shall not be used unless it accurately reflects all current and relevant facts. The advertisement shall not imply that the statistics are derived from the policy advertised unless that is the fact, and when applicable to other policies or plans shall specifically so state.

B. An advertisement shall not represent or imply that claim settlements by the insurer are "liberal" or "generous," or use words of similar import, or that claim settlements are or will be beyond the actual terms of the contract. An unusual amount paid for a unique claim for the policy advertised is misleading and shall not be used.

C. The source of any statistics used in an advertisement shall be identified in the advertisement.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.

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