Mich. Admin. Code R. 500.660 - Use of statistics
Current through Vol. 22-05, April 1, 2022
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Rule 10. (1) An advertisement relating to the dollar amounts of claims paid, the number of persons insured, or similar statistical information relating to an insurer or policy shall not be used unless it accurately reflects all material facts necessary to fairly apprise potential purchasers of the significance of the statistics. An advertisement shall not imply that statistics are derived from the policy advertised unless true and, when applicable to other policies or plans, shall specifically so state.
(2) An advertisement shall specifically identify the sickness and accident insurance policy to which statistics relate and, where statistics are given which are applicable to a different policy, it shall be stated clearly that the data do not relate to the policy being advertised.
(3) An advertisement that uses statistics which describe aspects of an insurer, such as assets, corporate structure, financial standing, age, product lines, or relative position in the insurance business, shall not be used unless relevant to the product being advertised.
(4) An advertisement shall not represent or imply that a claim settlement by the insurer is "liberal" or "generous" or use words of similar import, or that a claim settlement is 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.
(5) The source of statistics used in an advertisement shall be identified in the advertisement.
History: 1979 AC; 1991 AACS.