Bill > H2178

This bill proposes reforms to the state's rebate laws related to certain insurance policies, annuities, or pure endowment contracts. The key provisions include: (1) prohibiting insurance companies, their officers or agents, and insurance brokers from offering or providing any valuable consideration, special favor, or advantage not specified in the policy or contract, with some exceptions for promotional programs offering items up to $100 per customer per year; and (2) clarifying that knowingly permitting or offering to make insurance contract terms other than as expressed in the contract, or providing any rebate, special favor, or valuable consideration not specified in the contract, is considered an unfair or deceptive insurance practice.

Business and Industry

https://malegislature.gov/Bills/190/H2178