Unfair Trade Practices

Unfair Trade Practices

Mr. DeAngelo responded that the New Jersey Unfair Trade Practices Act on false advertising is only one paragraph long and the department has been criticized for not telling the industry in its regulations what is false and misleading, for example.

1999-4 NAIC Proc.

 

Unfair Trade Practices Act
The NAIC’s Model Unfair Trade Practices Act is designed to prevent deceptive and/or misleading practices during the sale of insurance.

The Model Act also provides an enforcement mechanism and a framework for regulatory action in this area.

This Act prohibits deceptive, dishonest, or unfair sales practices, as well as unfair methods of competition.

To date, 47 states have adopted some form of this Model.

1999-4v2

“unfair trade practices” “universal life insurance” – Google Search Results – about 113 results 

Legal Cases

Fisher v. Aetna Life Ins. & Annuity Co.

39 F. Supp. 2d 508 – Dist. Court, MD Pennsylvania, 1998 – Google Scholar

Agliori v. Metropolitan Life Ins. Co.

879 A. 2d 315 – Pa: Superior Court, 2005 – Google Scholar  

Boehm v. RIVERSOURCE LIFE INSURANCE COMPANY

2015 PA Super 120 – Pa: Superior Court, 2015 – Google Scholar  

Fairbanks v. Superior Court

205 P. 3d 201, 46 Cal. 4th 56, 92 Cal. Rptr. 3d … – Cal: Supreme …, 2009 – Google Scholar