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NAHU Washington Update - 09/30/2022
The NAIC’s exposure draft adds a definition of “insurance lead generator” to mean “any marketing-related activity or entity that publicizes the availability of an insurance, or what purports to be an insurance product or service.” The draft would also amend the Model by expanding the prohibition on unfair trade practices to insurance lead generators in addition to insurers It would also expand the scope of what is “false advertising” to include online advertisements, including those posted generally on the Internet and electronic-mail advertisements. Additionally, “insurance lead generators” would be required to maintain their books, documents and other business records related to both marketing and customer complaints for at least two years so that they will be accessible and retrievable for examination by a state’s insurance commissioner
NAHU Washington Update - 09/30/2022
The NAIC’s exposure draft adds a definition of “insurance lead generator” to mean “any marketing-related activity or entity that publicizes the availability of an insurance, or what purports to be an insurance product or service.” The draft would also amend the Model by expanding the prohibition on unfair trade practices to insurance lead generators in addition to insurers It would also expand the scope of what is “false advertising” to include online advertisements, including those posted generally on the Internet and electronic-mail advertisements. Additionally, “insurance lead generators” would be required to maintain their books, documents and other business records related to both marketing and customer complaints for at least two years so that they will be accessible and retrievable for examination by a state’s insurance commissioner