West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-24 - Medicare Supplement Insurance
Section 114-24-18 - Standards for Marketing
Universal Citation: 114 WV Code of State Rules 114-24-18
Current through Register Vol. XLI, No. 38, September 20, 2024
18.1. An issuer, directly or through its producers, shall:
18.1.a.
Establish marketing procedures to assure that any comparison of policies by its
agents or other producers will be fair and accurate.
18.1.b. Establish marketing procedures to assure
excessive insurance is not sold or issued.
18.1.c. Display prominently by type, stamp or
other appropriate means, on the first page of the policy the following:
"Notice to buyer: This policy may not cover all of your medical expenses."
18.1.d. Inquire and
otherwise make every reasonable effort to identify whether a prospective applicant
or enrollee for Medicare supplement insurance already has accident and sickness
insurance and the types and amounts of the insurance.
18.1.e. Establish auditable procedures for
verifying compliance with this subsection.
18.2. In addition to the practices prohibited in this state's Unfair Trade Practices Act [W. Va. Code § 33-11-1 et seq.], the following acts and practices are prohibited:
18.2.a. Twisting. -- Knowingly making any
misleading representation or incomplete or fraudulent comparison of any insurance
policies or insurers for the purpose of inducing, or tending to induce, any person
to lapse, forfeit, surrender, terminate, retain, pledge, assign, borrow on, or
convert any insurance policy or to take out a policy of insurance with another
insurer.
18.2.b. High pressure tactics.
-- Employing any method of marketing having the effect of or tending to induce the
purchase of insurance through force, fright, threat whether explicit or implied, or
undue pressure to purchase or recommend the purchase of insurance.
18.2.c. Cold lead advertising. -- Making use
directly or indirectly of any method of marketing which fails to disclose in a
conspicuous manner that a purpose of the method of marketing is solicitation of
insurance and that contact will be made by an insurance agent or insurance
company.
18.3. The terms "Medicare Supplement," "Medigap," "Medicare Wrap-Around" and words of similar import shall not be used unless the policy is issued in compliance with this rule.
Disclaimer: These regulations may not be the most recent version. West Virginia may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
